The White House, locked in a battle on the 2011 budget, weighed in on the 2012 Republican proposal unveiled on Tuesday, saying it did not do enough to spread the sacrifice needed to reduce the federal budget deficit in the coming years.
President Barack Obama said on Tuesday that if House and Senate leaders could not reach a deal on the 2011 fiscal budget, he wants to meet with them again Wednesday until the matter is settled.
President Barack Obama warned on Tuesday that a federal government shutdown would seriously disrupt the U.S. economy, after Republican and Democratic leaders failed to make headway on a budget deal.
The Obama administration is preparing a comprehensive proposal for corporate tax reform in an effort to kickstart the legislative process in Congress, U.S. Treasury Secretary Timothy Geithner said on Tuesday.
President Barack Obama will visit Facebook's California headquarters on April 20 and hold a town hall forum on the economy with Facebook Chief Executive Mark Zuckerberg and Chief Operating Officer Sheryl Sandberg, the White House said on Tuesday.
House Speaker John Boehner and Senate Majority Leader Harry Reid are meeting together with their teams to avert a federal shutdown on April 8 -- President Barack Obama's team won't be at the meeting at the Speaker's request, the President said Tuesday.
Republicans and Democrats failed to reach agreement on Tuesday during White House talks aimed at forging a budget deal that would keep the U.S. government operating beyond Friday.
House Speaker John Boehner did not reach a deal at a meeting at the White House with President Barack Obama and Senate Democrats to fund the federal government for the rest of the fiscal year, his office said on Tuesday.
Republicans in the House of Representatives have proposed a 2012 fiscal budget that is 4.6 percent smaller than President Barack Obama did in Mid-February.
Oil prices held near 2-1/2 year highs on Tuesday, with Brent crude topping $121 a barrel as unrest in oil exporting countries in the Middle East and Africa outweighed China's fourth interest rate hike since October.
The head of the House of Representatives' appropriations committee introduced a one-week budget stopgap funding measure late Monday, seeking $12 billion in cuts do discretionary spending, as negotiations and the process of obtaining a six-month deal threaten to go beyond an April 8 deadline.
Oil prices fell on Tuesday but held near 2-1/2 year highs, with Brent remaining close to $121 a barrel on unrest in oil exporting countries in the Middle East and Africa.
Oil prices fell on Tuesday but held near 2-1/2 year highs, with Brent remaining close to $121 a barrel on unrest in oil exporting countries in the Middle East and Africa.
Jesse Ventura, who plans to run as Vice President with Ron Paul in 2012, is making his presence felt with news-making interviews and explosive statements on 9/11, Barack Obama and Michele Bachmann.
House of Representatives Speaker John Boehner on Monday told fellow Republicans to prepare for a government shutdown, undercutting optimism that progress is being made on a deal that would keep the government running.
U.S. House of Representatives Speaker John Boehner on Monday blasted Democratic spending-cut proposals as smoke and mirrors, undercutting the notion that progress is being made on a budget deal that would avert a government shutdown.
A Republican proposal to revamp the U.S. public health system in the 2012 fiscal year budget will include a phase-out of Medicare and would replace it by providing subsidies for private health insurance.
Iran has warned Saudi Arabia to pull its troops out of Bahrain.
President Barack Obama has invited House and Senate lawmakers to the White House for Tuesday talks on the federal budget as a Friday deadline to agree to fund the federal government for the next six months, averting shutdown of some services.
Congress is looking ahead to negotiating the 2012 federal budget as a deal nears on the remainder of the 2011 fiscal year budget, with House Republican leadership outlining its goals and a top Democrat saying the Tea Party has had some effect on previous budget talks, but said lawmakers misread their own constituents in seeking larger cuts than were possible in the 2011 fiscal year.
U.S. stocks advanced in early trade on Monday as investors looked to extend a two-week winning streak in the major indexes.
The first major Republican counter to President Barack Obama's February proposal for the 2012 budget was previewed on Sunday, as deficit cutting will exceed the President's proposal by a factor of 4 over the next decade, including a way to slow the growth of federal health spending.
