ANN ARBOR, Mich. — President Barack Obama fired a warning at the nation’s colleges and universities on Friday, threatening to strip their federal aid if they “jack up tuition” every year and to give the money instead to schools showing restraint and value.
WASHINGTON — Even as a recent good-faith swap of offers showed a narrowing of differences over taxes, a special deficit-cutting “supercommittee” seems to have hit a major snag just two weeks before its deadline. The two sides can’t even agree on who should make the next move after an exchange of plans Monday night in which Democrats scaled back their demands on taxes even as Republicans for the first time offered higher tax revenues as part of a plan to cut deficits by $1.5 trillion over the coming decade.
WASHINGTON (AP) — Defying a veto threat, the Republican-controlled House voted Tuesday night to slice federal spending by $6 trillion and require a constitutional balanced budget amendment to be sent to the states in exchange for averting a threatened Aug. 2 government default.