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Oct 17, 2013

Post-crisis, Obama tells Congress to get to work

WASHINGTON, Oct 17 (Reuters) – President Barack Obama urged
Congress to turn to matters like immigration reform on Thursday
as Washington picked up the pieces from a destructive fiscal
crisis that has slowed the U.S. economy and undermined the
country’s international standing.

Less than 12 hours after he signed a bill that ended a
16-day partial government shutdown and averted a catastrophic
default, Obama on Thursday said lawmakers must stop lurching
from crisis to crisis and seek common ground on issues that also
include farm policy and long-term budget issues.

Oct 17, 2013

Washington becomes the biggest risk to the U.S. economy

WASHINGTON (Reuters) – Consensus may be hard to find in Washington these days, but many corporate executives and economists seem to agree on one point: the biggest risk to the world’s largest economy may be its own elected representatives.

Down-to-the-wire budget and debt crises, indiscriminate spending cuts and a 16-day government shutdown may not be enough to push the U.S. economy back into recession.

Oct 17, 2013

Analysis: Washington becomes the biggest risk to the U.S. economy

WASHINGTON (Reuters) – Consensus may be hard to find in Washington these days, but many corporate executives and economists seem to agree on one point: the biggest risk to the world’s largest economy may be its own elected representatives.

Down-to-the-wire budget and debt crises, indiscriminate spending cuts and a 16-day government shutdown may not be enough to push the U.S. economy back into recession.

Oct 8, 2013

Analysis – What default? Republicans downplay impact of U.S. debt limit

WASHINGTON (Reuters) – The Obama administration says a U.S. default would be “catastrophic.” Economists say it could plunge the country into recession and prompt a global financial meltdown.

To many Republicans, however, the prospect of the world’s lone superpower juggling its bills doesn’t seem so bad. The government could muddle through without a debt-ceiling increase as long as it kept up with interest payments and a few other priorities, they argue.

Oct 8, 2013

What default? Republicans downplay impact of U.S. debt limit

WASHINGTON, Oct 7 (Reuters) – The Obama administration says
a U.S. default would be “catastrophic.” Economists say it could
plunge the country into recession and prompt a global financial
meltdown.

To many Republicans, however, the prospect of the world’s
lone superpower juggling its bills doesn’t seem so bad. The
government could muddle through without a debt-ceiling increase
as long as it kept up with interest payments and a few other
priorities, they argue.

Oct 6, 2013

Boehner says U.S. on path to default if Obama won’t negotiate

WASHINGTON (Reuters) – Republican House Speaker John Boehner vowed on Sunday not to raise the U.S. debt ceiling without a “serious conversation” about what is driving the debt, while Democrats said it was irresponsible and reckless to raise the possibility of a U.S. default.

“The nation’s credit is at risk because of the administration’s risk to sit down and have a conversation,” Boehner told ABC’s “This Week,” adding that there were not enough votes in the House of Representatives to pass a “clean” debt limit bill, without any conditions attached.

Oct 4, 2013

What would a U.S. default look like?

WASHINGTON (Reuters) – Nobody knows exactly when America would default on its bills if Congress fails to raise a cap on government borrowing. But the recent past gives a pretty good idea of how a default could unfold.

Even the Treasury Department can’t know how much tax revenue will come in each day after October 17, when it expects to hit its $16.7 trillion debt ceiling. Nor can officials anticipate exact costs, such as how many people will apply for jobless benefits that week.

Oct 4, 2013

Scenarios – What would a U.S. default look like?

WASHINGTON (Reuters) – Nobody knows exactly when America would default on its bills if Congress fails to raise a cap on government borrowing. But the recent past gives a pretty good idea of how a default could unfold.

Even the Treasury Department can’t know how much tax revenue will come in each day after October 17, when it expects to hit its $16.7 trillion debt ceiling. Nor can officials anticipate exact costs, such as how many people will apply for jobless benefits that week.

Oct 2, 2013

Obama to cut short Asia trip as shutdown continues

WASHINGTON, Oct 2 (Reuters) – President Barack Obama on
Wednesday scaled down a long-planned trip to Asia, as a U.S.
government shutdown entered a second day with no end in sight to
the funding row in Congress that triggered it.

Obama is expected to leave on Saturday for summit meetings
in Indonesia and Brunei. Malaysian media quoted Prime Minister
Najib Razak as saying he would now skip a subsequent visit to
Kuala Lumpur. His last stop, in the Philippines, also now looks
in question.

Oct 2, 2013

In first day of U.S. shutdown, no sign how it will end

WASHINGTON (Reuters) – President Barack Obama and congressional Republicans came no closer to ending a standoff on Tuesday that has forced the first government shutdown in 17 years and thrown hundreds of thousands of federal employees out of work.

As police cordoned off landmarks like the Lincoln Memorial and government agencies stopped cancer treatments and trade negotiations, Republicans in the House of Representatives moved to restore funding to national parks, veterans care and the District of Columbia.

    • About Andy

      "I've covered presidential elections, hurricanes, corruption scandals and computer hackers since joining Reuters in 2000. In my free time I'm a musician -- my song "The Internet Is Changing Everything" has been played on NPR and CNBC. I'm currently working on a rock opera about Jack Abramoff."
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