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Treasury Secretary: Deficit reduction is not an economic policy
US Treasury Secretary Jacob Lew said Tuesday that reducing the nation’s deficit should not overshadow the need to boost economic growth and job creation. “Important as the deficit is, it cannot be our guiding star. Deficit reduction alone is not an economic policy,” Lew said in a speech in Cleveland,…
Obama ready for deal to avoid fiscal cliff
WASHINGTON — US President Barack Obama on Wednesday offered opposition Republicans a short-term compromise on avoiding the fiscal cliff, but said any deal needed to include tax increases for the rich. Obama said he was willing to negotiate a fix before year-end to avoid the harsh tax hikes and spending…
Buffett offers to match Republican donations to pay down deficit
WASHINGTON — U.S. tycoon Warren Buffett has challenged Republicans in Congress to make personal contributions to cut the US deficit, vowing to match their donations dollar-for-dollar. Answering Republican calls for the mega-billionaire to donate money to the US Treasury if he wants to help with deficit reduction, Buffett told Time…
US debt panel groping for deal as deadline looms
A US Congress “supercommittee” tasked with finding $1.2 trillion in deficit reduction planned to meet through the weekend if necessary to find an elusive deal, one of its co-chairs said Friday. “We are painfully, painfully aware of the deadline that is staring us in the face,” Republican Representative Jeb Hensarling told reporters as the…
WATCH LIVE: Obama announces deficit reduction plan
President Barack Obama was expected Monday to announce his plan to reduce the deficit which may include a higher tax rate for people making over a million dollars a year. The speech was scheduled to begin at 10:30 a.m. ET. Watch this live video from The White House, broadcast Sept.…
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