Russian President Vladimir Putin says President Obama did the right thing by skipping two summits in Asia to deal with a budget crisis and the shutdown of the federal government.
Could the White House reopen soon to the public?
Obama’s proposal would represent a stopgap measure.
Congress gave final approval Thursday to a plan to temporarily suspend the legal limit on the national debt, permitting the Treasury Department to keep borrowing and lifting the threat of a government default until early August.
The measure, which would set aside the legal debt ceiling and allow the government to borrow as needed to meet spending obligations through May 18, was adopted on a 285 to 144 vote.
In a statement released by the Office of Management and Budget Tuesday, the Obama administration announced that it does not oppose House Republicans' plan to suspend the debt ceiling for three months.
Senate Majority Leader Harry M. Reid (R-Nev.) praised House leaders Tuesday for moving ahead with a bill that would give the government borrowing authority into May, without demanding deep spending cuts in return. He said Democrats will discuss in coming days how to deal with a House provision, attached to the bill, that would require […]
Forget about raising the federal debt limit. House Republicans are proposing to ignore it altogether -- at least until May 18.