Posts Tagged ‘u.s. debt crisis 2011’

Congress to Vote on U.S. Debt Deal

Congress to Vote on U.S. Debt Deal

Congressional leaders in the United States House of Representatives and Senate are looking to vote on a claimed Bipartisan U.S. Debt Deal . This new U.S. Debt Ceiling bill would raise the United States Debt Ceiling and implement large spending cuts, while addressing the large U.S. deficit and work towards cutting it.   Instantly the [...]

Senate Democrats Draft Debt Plan

After weeks of discussion amongst inter party officials and debate between parties, the Senate Democrats finally put together a U.S. Debt deal plan. It outlines $4 trillion in projected borrowing cuts over the next 10 years, however avoids the programs targeted by Obama.   As an alternative to cuts in these programs, they have instead [...]

Harry Reid Seeks to Move Forward “Shared Sacrifice” Bill

Harry Reid filed a cloture motion on Senate bill 1323, a “Sense of the Senate” bill on “Shared Sacrifice.” The bill seeks to further the progressive income tax brackets of upper earners to a higher percentage. Section 1 of the bill is as follows:   SECTION 1. SENSE OF THE SENATE ON SHARED SACRIFICE. (a) [...]