ktlight
29th July 2011, 07:58
FYI:
US House Republicans have postponed a vote on the short-term bill to raise the debt ceiling by $900 billion and cut federal spending, US Congressional sources say.
According to the US media, the Republicans intentionally postponed the vote, which earlier seemed imminent, in order to have a chance to attract more support for it among Congressmen, Reuters reported Thursday.
The House was expected, between 5:45 p.m. EDT and 6:15 p.m. EDT (2145-2215 GMT), to vote on House of Representatives Speaker John Boehner's debt plan, which would impose $1.2 trillion in spending cuts, and establish a select congressional commission to propose an additional $1.8 trillion in savings by November 24, 2011.
The two-step plan suggested by Boehner, in general, aims for about $3 trillion in spending cuts over 10 years.
The US debt ceiling is capped at USD 14.3 trillion, up from USD 10.6 trillion when President Barack Obama took office in 2009; and the administration says that if it is not elevated by August 2, the government would default on its obligations.
As the clock is ticking on closer to the August deadline, the International Monetary Fund has also urged the United States to take immediate fiscal action regarding its debt crisis, as the country is nearing a default.
The House will vote on the bill later on Thursday evening, Congressional sources say.
source
http://www.presstv.ir/detail/191253.html
US House Republicans have postponed a vote on the short-term bill to raise the debt ceiling by $900 billion and cut federal spending, US Congressional sources say.
According to the US media, the Republicans intentionally postponed the vote, which earlier seemed imminent, in order to have a chance to attract more support for it among Congressmen, Reuters reported Thursday.
The House was expected, between 5:45 p.m. EDT and 6:15 p.m. EDT (2145-2215 GMT), to vote on House of Representatives Speaker John Boehner's debt plan, which would impose $1.2 trillion in spending cuts, and establish a select congressional commission to propose an additional $1.8 trillion in savings by November 24, 2011.
The two-step plan suggested by Boehner, in general, aims for about $3 trillion in spending cuts over 10 years.
The US debt ceiling is capped at USD 14.3 trillion, up from USD 10.6 trillion when President Barack Obama took office in 2009; and the administration says that if it is not elevated by August 2, the government would default on its obligations.
As the clock is ticking on closer to the August deadline, the International Monetary Fund has also urged the United States to take immediate fiscal action regarding its debt crisis, as the country is nearing a default.
The House will vote on the bill later on Thursday evening, Congressional sources say.
source
http://www.presstv.ir/detail/191253.html