Owens Corning wants a bigger market for its insulation. Cracker Barrel Old Country Store Inc. seeks to refurbish restaurants that churn out fried apples. Bank of New York Mellon Inc. is trying to avoid letting some competitors have an edge overseas.
While most of Washington is focused on confrontations over gun control and immigration law, the White House is quietly exploring the possibility of striking a deal with lawmakers to rein in the budget deficit.
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.
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.