Republicans in the House of Representatives have proposed a 2012 fiscal budget that is 4.6 percent smaller than President Barack Obama did in Mid-February.
Oil prices held near 2-1/2 year highs on Tuesday, with Brent crude topping $121 a barrel as unrest in oil exporting countries in the Middle East and Africa outweighed China's fourth interest rate hike since October.
The head of the House of Representatives' appropriations committee introduced a one-week budget stopgap funding measure late Monday, seeking $12 billion in cuts do discretionary spending, as negotiations and the process of obtaining a six-month deal threaten to go beyond an April 8 deadline.
Oil prices fell on Tuesday but held near 2-1/2 year highs, with Brent remaining close to $121 a barrel on unrest in oil exporting countries in the Middle East and Africa.
Oil prices fell on Tuesday but held near 2-1/2 year highs, with Brent remaining close to $121 a barrel on unrest in oil exporting countries in the Middle East and Africa.
Jesse Ventura, who plans to run as Vice President with Ron Paul in 2012, is making his presence felt with news-making interviews and explosive statements on 9/11, Barack Obama and Michele Bachmann.
House of Representatives Speaker John Boehner on Monday told fellow Republicans to prepare for a government shutdown, undercutting optimism that progress is being made on a deal that would keep the government running.
U.S. House of Representatives Speaker John Boehner on Monday blasted Democratic spending-cut proposals as smoke and mirrors, undercutting the notion that progress is being made on a budget deal that would avert a government shutdown.
A Republican proposal to revamp the U.S. public health system in the 2012 fiscal year budget will include a phase-out of Medicare and would replace it by providing subsidies for private health insurance.
Iran has warned Saudi Arabia to pull its troops out of Bahrain.
President Barack Obama has invited House and Senate lawmakers to the White House for Tuesday talks on the federal budget as a Friday deadline to agree to fund the federal government for the next six months, averting shutdown of some services.
Congress is looking ahead to negotiating the 2012 federal budget as a deal nears on the remainder of the 2011 fiscal year budget, with House Republican leadership outlining its goals and a top Democrat saying the Tea Party has had some effect on previous budget talks, but said lawmakers misread their own constituents in seeking larger cuts than were possible in the 2011 fiscal year.
U.S. stocks advanced in early trade on Monday as investors looked to extend a two-week winning streak in the major indexes.
The first major Republican counter to President Barack Obama's February proposal for the 2012 budget was previewed on Sunday, as deficit cutting will exceed the President's proposal by a factor of 4 over the next decade, including a way to slow the growth of federal health spending.
The top U.S. commander in Afghanistan on Sunday condemned the burning of a Quran in the United States, days after demonstrators retaliated by killing workers for the United Nations and protests in cities around the country have escalated into violence.
The burning of a copy of the holy book Koran in the U.S. continues to trigger protests in the northern Afghan province o Kandahar, with more than 10 people, including seven UN staff, killed here so far over the incident.
Quran burning pastor Terry Jones gives birth to new non-Taliban violence in Afghanistan as seen in Friday riots against U.N. where civilians were instigated by preachers.
At least eight United Nations staff-members and four protesters have been killed during protests in Afghanistan related to a purported burning of a Holy Quran, according to Afghan officials.
President Barack Obama said on Friday lawmakers negotiating a six-month budget extension that stretches until the end of the current fiscal year are close to a compromise and it was time to agree.
No deal has been reached on a budget extension, but it appears there's a working target on the size of budget cuts, as lawmakers continue to negotiate on what the specific cuts will be made and what non-budget related riders will be included in a bill to put up for a vote.
Payroll gains in the US private sector for February and March 2011 is the largest since early 2006.
U.S. forces will significantly dilute their role in Libya though they played crucial role in the first phase of Operation Odyssey Dawn, Defense Secretary Robert M. Gates told the House Armed Services Committee.
