The United States of America had moved closer to reaching a first ever default on the nation's debt after House Speaker John Boehner ruled out a straightforward bill to increase the country's borrowing limits without approval from the US President, said The Economic Times report.
Tags: John Boehner
U.S. Congress to push for new debt limit
The US congress is in session to finalize a new budget deal before the current US House Speaker, John Boehner steps down for retirement starting this Friday, October 30th.
Carl Icahn will spend $150 million to lobby the congress
The billionaire and activist investor, Carl Icahn announced that he is trying to lobby the congress to pass a new tax reform law that will not allow any US corporation from running business overseas just to avoid taxes. According to Icahn, he is planning to put forward $150 million into the new law known as super-PAC.
Homeland Security funding drama darkens U.S. fiscal outlook
Congress narrowly averted a partial shutdown of the U.S. domestic security agency late on Friday night, but the forces behind the chaotic episode remain - fractious Republicans and House Speaker John Boehner's lack of control over them.
Spending- why 'red' states shoulder the deepest cuts under Obama
As Washington has tightened its belt in recent years, the budget cuts have sliced most deeply in states where President Obama is unpopular, according to an analysis of federal spending by Reuters.
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