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
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

US Expands States Where Gay Marriage Recognized, Holder Says

Saturday, 25 Oct 2014 19:14 PM

The U.S. government added six more states to the list of those whose same-sex marriages are recognized by the federal go . . .

NY Post: Scared Hospital Workers Take an Ebola 'Sick-Out'

Saturday, 25 Oct 2014 18:43 PM

An extraordinary number of frightened Bellevue Hospital workers have taken a sick-out, including one woman who even  . . .

Nurse Scared by Ebola Quarantine as 'No One Seemed to be In Charge'

Saturday, 25 Oct 2014 17:45 PM

A Texas nurse who served with Doctors Without Borders in Sierra Leone is furious and frustrated over the disorganized, d . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

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