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Jul 26, 2011

BLOOMBERG News, Jul 26, 2011

Text: Obama address on debt ceiling impasse
Mon,25 Jul 2011 06:30 PM PDT
Reuters - WASHINGTON (Reuters) - Following is the full text of President Barack Obama's Monday evening address on the debt ceiling impasse in Washington, as prepared for delivery: Full Story

Analysis: The politics behind Boehner's two-step debt hike
Mon,25 Jul 2011 04:58 PM PDT
Reuters -
photoWASHINGTON (Reuters) - So many Americans are so sick of political acrimony over raising the U.S. debt limit that it might seem unfathomable to have to do it all over again early next year. But that is exactly what the top U.S. Republican, John Boehner, is proposing for some practical political reasons.

Amid dueling debt plans, Obama to address nation
Mon,25 Jul 2011 03:54 PM PDT
Reuters -
photoWASHINGTON (Reuters) - Top U.S. lawmakers dueled with diverging debt plans on Monday that offered little compromise and raised the threat of a ratings downgrade and national default as President Barack Obama prepared to address Americans on the impasse.

Head of U.S. cyber agency resigns suddenly
Mon,25 Jul 2011 01:59 PM PDT
Reuters - WASHINGTON (Reuters) - The head of a U.S. agency that helps respond to cyber attacks resigned suddenly after several high-profile attacks on government computer systems but the Department of Homeland Security declined Monday to comment on the reason. Full Story

Boehner introduces debt plan, says can pass Senate
Mon,25 Jul 2011 01:14 PM PDT
Reuters - WASHINGTON (Reuters) - House Speaker John Boehner, the top Republican in Congress, introduced a new plan on Monday to approve an increase in the debt ceiling based on the principles of the "cut, cap and balance" plan that can pass in the Democratic-controlled Senate. Full Story

White House backs Reid debt plan
Mon,25 Jul 2011 12:20 PM PDT
Reuters - WASHINGTON (Reuters) - The White House on Monday endorsed a deficit reduction plan put forward by Senate Democratic leader Harry Reid, saying it would remove the cloud of a possible default from the U.S. economy through 2012. Full Story

Senate Democrats unveil debt limit plan
Mon,25 Jul 2011 11:49 AM PDT
Reuters -
photoWASHINGTON (Reuters) - Senate Democrats on Monday offered a $2.7 trillion spending-cut plan that includes large savings from domestic and defense programs to try to break the impasse over raising the government's $14.3 trillion debt limit.

NJ Governor Christie more like 2016, not 2012, hopeful
Mon,25 Jul 2011 11:29 AM PDT
Reuters -
photoNEW YORK (Reuters) - New Jersey Governor Chris Christie has said he has no interest in running for president but relentless speculation about his plans could make him a kingmaker in 2012 and position him to run in 2016.

House Speaker Boehner to hold press conference 4 p.m. Monday
Mon,25 Jul 2011 11:04 AM PDT
Reuters - WASHINGTON (Reuters) - House of Representatives Speaker John Boehner has scheduled a press conference for 4 p.m. EDT on Monday, his office said. Full Story

House Republicans seek $1 trillion debt limit hike
Mon,25 Jul 2011 10:32 AM PDT
Reuters -
photoWASHINGTON (Reuters) - Republicans in the House of Representatives will push legislation to cut $1.2 trillion in spending over 10 years and provide a short-term, $1 trillion increase in the government's borrowing limit, a Republican aide said on Monday.

Debt talks rain on Obama 50th birthday parade
Mon,25 Jul 2011 07:25 AM PDT
Reuters -
photoWASHINGTON (Reuters) - Rancorous negotiations with congressional Republicans over how best to deal with the U.S. budget deficit may keep President Barack Obama away from his own 50th birthday party in Chicago next month.

World watches and hopes U.S. will avoid debt "suicide"
Mon,25 Jul 2011 03:54 AM PDT
Reuters - SINGAPORE (Reuters) - Policymakers worldwide oscillated between hope and confidence on Monday that U.S. lawmakers will break a debt impasse that threatens to trigger a default and up-end global financial markets. Full Story

Analysts view: Lawmakers still divided; debt deadline looms
Sun,24 Jul 2011 10:07 PM PDT
Reuters - WASHINGTON (Reuters) - A sharply divided Congress pursued rival budget plans on Sunday that appeared unlikely to win broad support, pushing the United States closer to a debt default that would reverberate around the world. Full Story

Pelosi seeks ethics probe of Oregon Democrat Wu
Sun,24 Jul 2011 09:49 PM PDT
Reuters -
photoWASHINGTON (Reuters) - House of Representatives Democratic leader Nancy Pelosi said she will seek an ethics investigation Monday into sexual misconduct allegations against Representative David Wu.

Eyeing Iowa, Bachmann hits at Pawlenty on credentials
Sun,24 Jul 2011 02:53 PM PDT
Reuters -
photoWASHINGTON (Reuters) - Presidential candidate Michele Bachmann hit back at a Republican rival on Sunday, saying her experience with the conservative Tea Party movement made her uniquely qualified to trim down Washington.

Snapshot: Developments in U.S. debt talks
Sun,24 Jul 2011 10:24 AM PDT
Reuters - WASHINGTON (Reuters) - Here is what is happening on Sunday as lawmakers try to close in on a deal to raise the $14.3 trillion U.S. debt limit by August 2 and avoid a credit default: Full Story

Daley sees a few stressful days for markets
Sun,24 Jul 2011 07:45 AM PDT
Reuters - WASHINGTON (Reuters) - White House Chief of Staff Bill Daley said on Sunday there will be a few stressful days ahead for financial markets but that a U.S. debt deal will ultimately be reached. Full Story

Obama cannot raise debt ceiling on his own: Geithner
Sun,24 Jul 2011 07:10 AM PDT
Reuters -
photoWASHINGTON (Reuters) - Treasury Secretary Timothy Geithner said on Sunday that after careful review it was not an option for President Barack Obama to raise the debt ceiling on his own by invoking constitutional authority.

House Speaker Boehner: last offer still on table
Sun,24 Jul 2011 06:53 AM PDT
Reuters - WASHINGTON (Reuters) - Republican House of Representatives Speaker John Boehner said on Sunday that he would prefer to unveil a bipartisan deal to raise the debt ceiling and that his last offer to Democratic President Barack Obama was still on the table.Full Story

Senator Coburn says short-term debt deal likely
Sun,24 Jul 2011 06:39 AM PDT
Reuters - WASHINGTON (Reuters) - Republican Senator Tom Coburn said he believes a deal will be struck to raise the debt ceiling for a short amount of time and that President Obama will have no choice but to sign the deal. Full Story

Senior North Korean diplomat set to visit U.S.: Clinton
Sun,24 Jul 2011 05:39 AM PDT
Reuters - SEOUL (Reuters) - A high-ranking North Korean diplomat plans to visit New York later this week for talks with United States officials, U.S. Secretary of State Hillary Clinton said Sunday. Full Story

Insight: Wall Street, companies brace for U.S. default
Sun,24 Jul 2011 05:31 AM PDT
Reuters - NEW YORK, July 22 (Reuters) - American businesses, from Wall Street banks to major industrial corporations, are preparing contingency plans for a pair of once-unthinkable events: the United States defaulting on its debt and the loss of the nation's top AAA credit rating. Full Story

Obama offers condolences to Norway over deaths
Sat,23 Jul 2011 01:17 PM PDT
Reuters -
photoWASHINGTON (Reuters) - President Barack Obama called Norwegian Prime Minister Jens Stoltenberg on Saturday to offer U.S. condolences over the killing of dozens of Norwegians and pledged assistance if needed.

Lawmakers look at $3 trillion-$4 trillion deal: aide
Sat,23 Jul 2011 12:52 PM PDT
Reuters - WASHINGTON (Reuters) - Lawmakers are making a last-ditch effort to put together $3 trillion to $4 trillion in deficit reductions to clear the way to raise the debt limit, a congressional Republican leadership aide told Reuters. Full Story

Boehner says lawmakers seek debt limit solution
Sat,23 Jul 2011 11:39 AM PDT
Reuters -
photoWASHINGTON (Reuters) - House of Representatives Speaker John Boehner said on Saturday he and other congressional leaders are seeking a bipartisan solution to raise the debt limit by an August 2 deadline and avoid a U.S. default.

White House warns Congress not to play politics with debt
Sat,23 Jul 2011 11:16 AM PDT
Reuters -
photoWASHINGTON (Reuters) - President Barack Obama continues to oppose a short-term extension of the country's debt ceiling, which he feels could lead to the U.S. credit rating being downgraded, the White House said on Saturday.

Congress working on new debt legislation: McConnell
Sat,23 Jul 2011 10:11 AM PDT
Reuters -
photoWASHINGTON (Reuters) - Senate Republican leader Mitch McConnell said on Saturday congressional leaders were working on fresh legislation to prevent the United States defaulting on its debt.

Short-term debt plan not being considered: Pelosi
Sat,23 Jul 2011 10:01 AM PDT
Reuters -
photoWASHINGTON (Reuters) - President Barack Obama and congressional leaders are "definitely not" considering a short-term debt limit increase in their weekend negotiations to break an impasse, House of Representatives Democratic leader Nancy Pelosi told reporters on Saturday.

Debt talks meeting ends at White House: official
Sat,23 Jul 2011 09:27 AM PDT
Reuters - WASHINGTON (Reuters) - Debt talks between President Barack Obama and congressional leaders on Saturday have ended, a White House official said. Full Story

U.S. wastes $34 billion in Afghan and Iraq contracting
Sat,23 Jul 2011 09:04 AM PDT
Reuters - WASHINGTON (Reuters) - The United States has wasted some $34 billion on service contracts with the private sector in the wars in Iraq and Afghanistan, according to a study being finalized for Congress. Full Story

Factbox: How the Obama/Boehner debt talks unraveled
Sat,23 Jul 2011 08:32 AM PDT
Reuters - WASHINGTON (Reuters) - President Barack Obama and House Speaker John Boehner had agreed on the rough outlines of a far-reaching budget deal that would allow the United States to avert an imminent default before Boehner broke off talks on Friday. Full Story

Boehner to insist on deep cuts for debt increase
Sat,23 Jul 2011 07:19 AM PDT
Reuters -
photoWASHINGTON (Reuters) - House Speaker John Boehner will stick to his demand for spending cuts greater than the size of an increase in the U.S. debt limit at an 11 a.m. EDT meeting with President Barack Obama on Saturday.

U.S. calls for more clarity on South China Sea claims
Fri,22 Jul 2011 10:26 PM PDT
Reuters -
photoNUSA DUA, Indonesia (Reuters) - The United States called on Saturday on rivals in the disputed South China Sea to back up territorial claims with legal evidence -- a challenge to China's declaration of sovereignty over vast stretches of the region.

U.S. calls for more clarity on South China Sea claims
Fri,22 Jul 2011 09:22 PM PDT
Reuters - NUSA DUA, Indonesia (Reuters) - Secretary of State Hillary Clinton on Saturday calledon rivals in the disputed South China Sea to back up territorial claims with legal evidence -- a challenge to China's declaration of sovereignty over vast stretches of the region. Full Story

Sen. Reid won't agree to short budget deal: aide
Fri,22 Jul 2011 05:17 PM PDT
Reuters - WASHINGTON (Reuters) - Senate Majority Leader Harry Reid is not interested in negotiating a short-term deficit-reduction and debt limit extension deal and wants a long-term package, Reid spokesman Adam Jentleson told Reuters. Full Story

Court shoots down SEC shareholder election rule
Fri,22 Jul 2011 03:22 PM PDT
Reuters -
photoWASHINGTON (Reuters) - An appeals court has rejected a new Securities and Exchange Commission rule intended to make it easier for shareholders to nominate directors to corporate boards.

Republican Party makes big gains among whites
Fri,22 Jul 2011 01:41 PM PDT
Reuters - WASHINGTON (Reuters) - The Republican Party has made big gains among white voters, particularly younger and poorer ones, since Democrat Barack Obama was elected president in 2008, according to a survey released on Friday. Full Story

Leon Panetta says no "blank check" for Pentagon spending
Fri,22 Jul 2011 01:19 PM PDT
Reuters - WASHINGTON (Reuters) - Defense Secretary Leon Panetta pledged on Friday the Pentagon "will not break faith" with men and women in uniform as it deals with the challenge of cutting hundreds of billions of dollars in military spending. Full Story

U.S. delays final report on BP oil spill probe
Fri,22 Jul 2011 12:14 PM PDT
Reuters -
photoWASHINGTON (Reuters) - A U.S. team probing the causes of last year's massive BP oil spill has delayed the release of its final report in order to more fully weigh the evidence, investigators said on Friday.

Jon Huntsman plans more aggressive race
Fri,22 Jul 2011 12:13 PM PDT
Reuters -
photoWASHINGTON (Reuters) - Republican Jon Huntsman plans a more aggressive approach on the 2012 campaign trail, boosting his profile and drawing sharper distinctions with rivals in an effort to enliven his sagging presidential bid.

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