Tags: BNSTAFF | BNTEAMS | BUD | CNG | DCAA | EXE | GEN

Obama Would Veto House Republican ‘Cut, Cap’ Deficit Bill

Monday, 18 Jul 2011 01:16 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

President Barack Obama would veto a House Republican proposal to impose mandatory budget cuts and set caps for government spending in order to raise the federal debt limit, the administration said in a statement.

“Neither setting arbitrary spending levels nor amending the Constitution is necessary to restore fiscal responsibility,” the statement said. The Republican proposal. known as the “Cut, Cap and Balance Act,” would “undercut” the government’s ability to meet its commitments, the statement said.

The House plans to vote this week on an increase in the debt ceiling tied to a balanced-budget amendment will let Republicans go on record while offering no immediate resolution by the Aug. 2 deadline Treasury Secretary Timothy Geithner has set for raising the $14.3 trillion debt ceiling.

 

© Copyright 2014 Bloomberg News. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Russia Warns US against Further Sanctions as Ukraine Deal Stalls

Friday, 18 Apr 2014 20:23 PM

Russia said its military is massed on Ukraine's doorstep and warned against further US sanctions as a deal struck with W . . .

Sen. Corker: Time to Consider Sending Weapons to Ukraine

Friday, 18 Apr 2014 19:31 PM

It is time for the United States to provide lethal weapons for Ukraine's military, Sen. Bob Corker said Friday, and make . . .

Pope's Good Friday Message: 'Remember All the Abandoned People'

Friday, 18 Apr 2014 18:05 PM

The plight of immigrants, the poor, the sick, the elderly, unemployed and prisoners dominated Pope Francis' Good Friday  . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved