WASHINGTON — Senate Republicans derailed a Democratic “Buffett rule” bill Monday forcing the nation’s top earners to pay at least 30 percent of their income in taxes, using the day before Americans’ taxes are due to defy President Barack Obama on one of his signature election-year issues.
NASHUA, N.H. — President Barack Obama, turning his political sights on snowy New Hampshire, demanded that Congress eliminate oil and gas company subsidies that he called an outrageous government “giveaway.” Though politically a long shot, the White House believes the idea resonates at a time of high gasoline prices.
President Obama was in Ohio this week, speaking in the Cleveland area about the state of the nation’s economy. He surprised reporters (and no doubt Congressional Republicans as well) when he announced that he was appointing former Ohio Attorney General Richard Cordray as head of the new federal consumer financial protection bureau.
WASHINGTON — The government has maxed out its credit card. The United States reached its $14.3 trillion limit on federal borrowing Monday, leaving Congress 11 weeks to raise the threshold or risk a financial panic or another recession.