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Moody’s suggests U.S. eliminate debt ceiling

NEW YORK (Reuters) – Ratings agency Moody’s on Monday suggested the United States should eliminate its statutory limit on government debt to reduce uncertainty among bond holders. The United States is one of the few countries where Congress sets a ceiling on government debt, which creates “periodic uncertainty” over the…

Obama urges ‘shared sacrifice’ on debt

WASHINGTON — Insisting he is “willing to compromise,” President Barack Obama called on US lawmakers Saturday to quickly forge a deal that would avert an early August debt default by the world’s richest nation. Obama has warned of economic “Armageddon” should Congress fail to raise the debt limit to allow…

Japan may halt shipments after radioactive beef sent out

Japan was Friday considering a ban on shipments of all cattle fromFukushima prefecture, site of its tsunami-hit nuclear plant, as fears deepened about radioactive beef, Kyodo News reported. The move follows news that beef from another 42 cattle has been shipped to Tokyo and other areas over recent months after the animals were…

Watch live: President Obama speaks about debt ceiling negotiations

President Barack Obama will speak to reporters Friday about negotiations with Republicans to raise the nation’s debt limit. Watch this live video from the White House. The event is expect to begin shortly after 11 a.m. ET. JOIN THE LIVE CHAT VISIT WHITEHOUSE.GOV…

Moody’s puts U.S. ratings on review for downgrade

NEW YORK (Reuters) – The United States may lose its top-notch credit rating in the next few weeks if lawmakers fail to increase the country’s legal borrowing limit and the government misses debt payments, Moody’s Investors Service warned on Wednesday. Moody’s is the first of the big-three credit rating agencies to place the…

Obama, lawmakers facing fresh doubts on debt deal

WASHINGTON (Reuters) – Sharply divided by partisan bickering, President Barack Obama and top Republicans face growing doubts on Thursday about the prospects for reaching a deal to avoid a potentially disastrous debt default. With tensions running high in Washington political circles as the clock ticks toward an August 2 deadline…

Sen. DeMint: Geithner ‘playing Chicken Little’ on the debt ceiling

Tea party favorite Sen. Jim DeMint (R-SC) said Sunday that there was no risk of “major economic consequences” if the debt limit was not raised by Aug. 2. “I think the president has been gaming Republicans,” DeMint told Fox News’ Bret Baier. “He has been talking about this for six…

Treasury secretly weighs options to avert default

WASHINGTON (Reuters) – A small team of Treasury officials is discussing options to stave off default if Congress fails to raise the country’s borrowing limit by an August 2 deadline, sources familiar with the matter said on Wednesday. Senior officials, including Treasury Secretary Timothy Geithner, have repeatedly said there are no contingency…

Obama to meet U.S. senate leaders on debt talks

WASHINGTON (AFP) – President Barack Obama is scheduled to meet leaders of the US Senate Monday in an attempt to break the impasse over raising the country’s debt limit, with a deadline fast approaching. Treasury Secretary Timothy Geithner has warned lawmakers they have until August 2 to raise the debt…

Schumer: Debt limit deal must include revenues

WASHINGTON – One day after the debt limit negotiations fell into disarray, Sen. Chuck Schumer made it clear that Democrats won’t accept any deal that doesn’t include revenue increases along with spending cuts. “Make no mistake: there needs to be revenues in any deal,” the New York Democrat told reporters…

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