You are browsing the archive for debt crisis.

Pelosi names final members to debt supercommittee

August 11, 2011 in Grand Forks Herald

The fragile economy and wildly gyrating financial markets could put enormous pressure on Congress’ new debt-reduction supercommittee. Yet even as leaders finished naming the bipartisan panel’s members, it remained uncertain that it will ultimately agree on a savings plan. Continue Reading

Jan Raaen, Erskine, Minn., letter: Look to Washington spending to explain current financial problems

August 10, 2011 in Grand Forks Herald

“How have we come to be on the brink of economic disaster?” That is the beginning sentence in a recent letter to the editor, of the Grand Forks Herald. However, it has nothing to do with the tea party as the writer suggested, although many people like to blame someone else for dire things that happen. It has everything to do with irresponsible fiscal policy of the present administration and the Czars overspending in particular. Continue Reading

S&P downgrades US credit rating

August 6, 2011 in Grand Forks Herald

Republicans and Democrats quickly doled out blame to each other for the first-ever downgrade in the nation’s sterling credit rating, an expected but unsettling move that further clouds prospects for the recovery of the fragile U.S. economy. Continue Reading

Obama’s stands may help him in 2012, but not in Congress

August 5, 2011 in Grand Forks Herald

President Barack Obama’s performance in the recent debt ceiling drama may help him position himself as a centrist for the 2012 campaign, but it’s strained his already-fragile relations with Congress. Continue Reading

Fight over debt tests leadership of Obama, Boehner

July 30, 2011 in Grand Forks Herald

The fight over the debt ceiling has turned into a dramatic leadership test for President Barack Obama and House Speaker John Boehner, opponents in a divided government who’ve gone from negotiating in secret to facing off in public at a watershed moment for the country and their own political careers. Continue Reading

Budget, debt worries plague troops

July 30, 2011 in Grand Forks Herald

A half a world away from the Capitol Hill deadlock, the economy and debt crisis are weighing heavily on U.S. troops in Afghanistan. And the top question on their minds today even as bombings rocked the city around them, was one the top U.S. military officer couldn’t answer. Will we get paid? Continue Reading

Dems, GOP still at loggerheads as clock ticks

July 30, 2011 in Grand Forks Herald

The GOP-controlled House and the Democratic Senate remain at loggerheads over debt legislation required to avoid a first-ever default on U.S. financial obligations as lawmakers and the White House head into a pressure-packed weekend in search of compromise. Continue Reading

Debt debate splits Minnesota’s lawmakers in Congress

July 29, 2011 in Grand Forks Herald

Minnesota’s congressional delegation is split over how to avoid a potential U.S. debt default. Republican Rep. Chip Cravaack is among the conservative freshmen who helped derail a House debt-ceiling proposal over concerns it didn’t cut spending aggressively enough. Continue Reading

Struggling with debt, Congress talks defense cuts

July 29, 2011 in Grand Forks Herald

Taking a stance once unthinkable in a time of two wars, Democrats and Republicans alike are insisting that the billions spent on the military can be significantly cut back over the next decade as the nation struggles to reduce its spiraling debt. Continue Reading

Debt-ceiling outcome as unclear as ever

July 29, 2011 in Grand Forks Herald

Demoralized House Republicans are trying for a third straight day to pass a debt-ceiling bill that has almost no chance of surviving the Senate, even as the clock ticks closer to next week’s deadline for avoiding a potentially calamitous government default. Continue Reading