The White House says President Barack Obama will not negotiate with Congress on the approaching debt ceiling..
The White House says President Barack Obama will not negotiate with Congress on the approaching debt ceiling.
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White House Press Secretary Jay Carney says House Republicans can't use negotiations over the debt ceiling or the federal budget to 'get their way' when it comes to funding the Affordable Care Act.
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(Boston Globe) The debt ceiling debate continues as Representative Michele Bachmann addressed supporters in Iowa. Video by Matt Viser/Globe Staff.
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President Barack Obama spoke at the annual meeting of the Wall Street Journal's CEO council in Washington Tuesday. He addressed problems with the Affordable Care Act and how he doesn't see a repeat of the debt ceiling clash. (Nov. 19)
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Global debt has jumped to a new high
The International Monetary Fund (IMF) said global debt has jumped to a new high of $226 trillion with India’s dues projected to rise to 90.6 per cent in 2021, due to COVID-19 and policies put in place to respond to it. Advanced economies and China contributed over 90% to the accumulation of debt in 2020 and the remaining emerging economies and low-income developing countries contributed only around seven per cent. India's debt increased to 89.6% of its GDP in 2020 from 68.9% in 2016. This increase is, by far, the largest on record. This figure includes both public and non-financial private sector debt. The remaining emerging economies and low-income developing countries contributed only around seven percent. It is projected to jump to 90.6 percent in 2021 and then decline to 88.8 percent in 2022, to gradually reach 85.2 percent in 2026. The IMF said risks to the fiscal outlook are elevated. A scaling up of vaccine production and delivery, especially to emerging markets and low-income developing countries, would limit further damage to the global economy.
Constraints on financing are particularly severe for poorer countries. Noting that in 2020, fiscal policy proved its worth, he said the increase in public debt, in 2020, was fully justified by the need to respond to COVID-19 and its economic, social, and financial consequences. But the increase is expected to be one-off. After that it is projected to stabilise at about 97 percent of GDP. These debt dynamics are driven by a strong contribution from nominal GDP growth, accompanied by a much more gradual reduction in the primary deficit, he said. The IMF further said that, risks to the fiscal outlook are elevated. A scaling up of vaccine production and delivery, especially to emerging markets and low-income developing countries, would limit further damage to the global economy. On the downside, new variants of the v
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A country's ability to successfully negotiate concerns defines national power: President Kovind
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On the notice sent to companies regarding water cess, Principal Media Advisor Naresh Chauhan said that when Congress came to power, the government treasury was empty. In such a situation, the government's commitment is to increase the resources of the state government. In this context, water cess was imposed. He said that the government is in constant touch with private companies and talks are going on. He said that if needed, the government can also negotiate with the companies on the rates imposed on water cess.
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House Republicans said they will continue efforts to fund parts of the government, such as the national parks, even as the wider shutdown continues. And to the Democratic Senate, they said the only way to end the shutdown is through negotiation.
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House Speaker John Boehner says the GOP won't surrender unconditionally on the budget and debt ceiling, as he says Obama demanded earlier today. The House leader blasted Democrats for refusing to negotiate on the health care law.
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