President Barack Obama and Republican congressional leaders are staking out positions ahead of next month’s budget battle, setting up their sixth showdown over how to avoid defaulting on the U.S. debt and shutting down the government.
Less than a week after job-creation figures fell short of expectations and underscored the U.S. economy’s fragility, President Barack Obama will send Congress a budget that doesn’t include the stimulus his allies say is needed and instead embraces cuts in an appeal to Republicans.
President Barack Obama sought to contain political damage by clarifying optimistic comments about the state of the U.S. private sector, saying it is “absolutely clear that the economy is not doing fine.”
Presidents who enjoy successful second terms usually pull fresh thinking into their inner circles and maintain close working relations with Congress. Barack Obama has shown little inclination to do either.
BAE Systems Plc’s U.S. unit has started briefing Pentagon officials on the company’s plan to merge with European Aeronautic Defence & Space Co. in an effort to preserve its security clearance for defense contracts, according to two people familiar with the talks.