President Barack Obama will emphasize Democratic priorities in his next budget, dropping an offer to trim the growth of entitlement spending and proposing new tax limits for U.S.-based multi-national companies.
President Barack Obama’s repeated postponement of deadlines in the rollout of his health-care overhaul has sparked accusations from Republicans that he’s straying into dangerous territory by rewriting the law.
Boosting the minimum wage may cost as many as 500,000 people their jobs, said a new report from Congress’s financial scorekeeper that diminishes chances for an agreement on one of President Barack Obama’s priorities.
President Barack Obama signed bills raising the nation’s debt limit and scaling back benefit cuts for U.S. military retirees, taking two issues with economic implications out of the spotlight ahead of November’s elections.
Vice President Joe Biden defended the Obama administration’s pursuit of a Pacific trade pact at a meeting with House Democrats, while acknowledging that the deal represented an election-year challenge, according to a White House official.
Treasuries fell amid bets the Federal Reserve will push on with reductions to its bond- purchase program, viewing weak economic data this year as reflecting harsh weather rather than a faltering recovery.
Senate Republican Leader Mitch McConnell’s vote yesterday to clear the way for Congress to lift the federal debt ceiling made the U.S. Chamber of Commerce’s task of helping him win re-election a lot harder.