With less than three weeks until their deadline, U.S. budget negotiators have yet to break an impasse over revenue, prompting lawmakers to draft plans to blunt $19 billion in defense cuts set to start in January.
President Barack Obama supports an effort by congressional Democrats to raise the federal minimum wage to about $10 an hour, higher than the rate he called for earlier this year, according to a White House official.
As White House, Federal Reserve and Treasury Department staff prepare Janet Yellen to face the U.S. Senate for her nomination as the next Federal Reserve chairman, one experience remains seared in their memories: Ben S. Bernanke’s close call in 2010.
Jennifer Cavallaro’s Twitter feed usually deals with matters like the free-range egg salad she serves at her Beehive Café in Bristol, Rhode Island. On May 17, 2010, she blasted a different message to her followers.
The Senate blocked a Democratic plan to push the next fight over raising the debt limit until 2015 as lawmakers struggled to find a path to prevent a U.S. default and end the 12-day government shutdown.