President Obama and House Majority Leader John Boehner have agreed to a deal to raise the debt ceiling and cut spending by $1 trillion over the next 10 years.
The leaders of America have announced a deal to raise the debt ceiling, cut spending by $1 trillion in the next 10 years, and avert a government default come August 2.
Two days before a financial market-rocking U.S. Government default, President Barack Obama Sunday night announced that leaders of both major political parties have reached a debt deal agreement to reduce the U.S. deficit and avert a default. Both the Senate and the House are expected to vote on the bill Monday.
President Obama, House Speaker John Boehner, and Democratic lawmakers struck a deal and averted a government default come August 2. The deal will cut $1 trillion in spending over 10 years, announced Obama, reported Reuters.
Lawmakers were close to a last-ditch $3 trillion deal on Sunday to raise the U.S. borrowing limit and assure jittery financial markets that the United States will avoid a potentially catastrophic default.
President Barack Obama told reporters Sunday that a deal has been reached to raise the federal debt ceiling and avoid the first U.S. default, the culmination of days of high-level, high-stakes political wrangling to attempt to resolve the nation's large deficits.
Senate Majority Leader Harry Reid has "signed-off" on a debt-raising deal that could be voted on as early as tonight, although the Senate's Republican leadership indicates a deal has not been reached yet as the U.S. attempts to avoid the first-ever default on debt by the U.S. government.
A deal to raise the federal debt ceiling and avoid the first ever U.S. default is "very close," but House Democratic Leader Nancy Pelosi said Sunday there is a chance they may not pass it.
High inflation and soaring real estate prices have thrown thousands of residents into dire straits.
The likely bipartisan debt deal bill received another boost Sunday afternoon when key Senate Tea Party members said they would not try to delay a vote on the bill via parliamentary tactics. As a result, a Senate vote could occur Monday -- which means the bill could be ready for a House vote later that day.
A deal to raise the federal debt ceiling and avoid the first ever U.S. default is "very close" and a vote on a bipartisan measure could take place as soon as Sunday night, top Senate Leaders said.
The Senate failed to advance Harry Reid's debt-ceiling plan, but leaders from both sides remained optimistic Sunday a deal can be reached before the Aug. 2 deadline to raise the U.S. debt ceiling.
Senate Majority Leader Harry Reid, D-Nev., is pushing ahead with a Senate vote on his debt plan, but the GOP votes are not there. Still, Republican Majority Leader Mitch McConnell said Sunday negotiators were "very, very close" to a deal.
Senate Republican leader Mitch McConnell said Sunday negotiators were "very, very close" to a deal to raise the debt ceiling. But Democratic leaders remain cautious. The deal is not done, they say.
It was John Lennon who said there are no problems, only solutions, and on Sunday Congressional Democrats and Republicans continued to work on a bill that would avert a dreaded U.S. Government default. If the two sides continue to make progress, a vote on the bill could occur as early as Sunday night.
Congress is "very, very close" to a debt ceiling deal, according to Senator Mitch McConnell. Negotiators are discussing final details, and the deal is not done yet, but they say its close.
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Hopes emerged that lawmakers were close to a last-minute deal on Sunday that could raise the debt ceiling by up to $2.8 trillion and assure financial markets that the United States will avoid default.
J. P. Morgan, the U.S. financier who founded the J.P. Morgan & Co. bank in 1871, bailed out the government and financial markets not once, but twice.
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Even though the congressional leaders had all the time in the world to strike a deal on the issue of debt-ceiling raise, they seem to be shamelessly waiting for an 11th hour drama. Technically speaking, Aug. 2 is the end of grace period for extraordinary measures and the U.S. borrowing limit, currently at $14.29 trillion, was reached on May 16 this year. Instead of getting things done Democrats and the Republicans seem to get a kick out of the 'blamestorming game'.
The world population is expected to breach seven billion this year, which is more than twice the number of people that lived on the earth just 50 years ago, according to recent projections by the United Nations. Is the world prepared for it?
After two weeks of acrimony, Democrats and Republicans, perhaps after having stared into the abyss, returned to the bargaining table Saturday. Still, no one will believe the issue has been resolved until President Barack Obama signs a bill that raises the debt ceiling and cuts the budget deficit.
Top level negotiations will continue until Sunday afternoon at one p.m. after Senate Majority leader Harry Reid delayed a test vote on a Democratic debt ceiling increase plan.
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Top congressional Republicans said on Saturday they were in serious talks with President Barack Obama to break a U.S. debt limit deadlock and were confident the risk of default by the world's largest economy could be avoided.
Finally, after weeks of incessant, heated rhetoric and counter-productive posturing, there's been a positive development in the debt talks. The White House and both Republican and Democratic leaders Saturday confirmed that they are now in serious talks to raise the debt ceiling and avoid a looming U.S. Government default.
The White House said on Saturday it "strongly supports" a bill being considered in the House of Representatives that incorporates both Democratic and Republican ideas and would raise the debt limit to early 2013.
The debt negotiations are getting down to the wire. Republican and Democratic lawmakers are scrambling to broker a deal to raise the country's $14.3 trillion debt ceiling before Tuesday, when the Treasury will no longer be able to borrow funds to meet all of its obligations. It all means the United States could face the possibility of defaulting on its debt and losing its prized triple-A credit rating.
Norwegian mass killer Anders Breivik is cooperating with interrogators, police said on Saturday, but they declined to confirm media reports he had plans to attack the royal palace and Labor Party headquarters.
