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WASHINGTON, D.C. - We're gearing up for a party showdown in Congress. Today, House Republicans took action to avoid a debt crisis, but the plan isnt' sitting well with some Democrats. House Republicans cross the finish line and agree to suspend the government's borrowing limit until mid-May.
"It's time for the Senate and the President to show the American people how they're ready to balance the budget over the next 10 years," says Speaker of the House John Boehner (R-OH).
The short term deal suspends the nation's borrowing limit, now at $16.4 trillion, until May 18. The measure also includes what Republicans call a "No Budget, No Pay" provision. That freezes Congressional salaries beginning April 15 if the House and Senate fail to pass a budget.
"It took one week in which their paychecks were on the line that now the Senate is going to step up and do the right thing," says House Majority Leader Rep. Eric Cantor (R-VA).
Some House Democrats say the Republican bill is a gimmick.
"This simply creates more uncertainty, another fiscal cliff, and yet another economic case of sabotage against the American public," says Rep. Xavier Becerra (D-CA).
"This 90-day kicking the bill down the can down the road has got to stop," says Rep. Steny Hoyer (D-MD).
Congress now moves to a larger budget fight with automatic spending cuts known as the sequester, scheduled to hit the federal budget at the end of February. Also, government spending authority on a large portion of the budget expires in March. The bill now heads to the Senate where leaders say they'll likely pass the measure. The White House says the President prefers a longer term debt ceiling solution, though he'll likely sign the smaller provision. Under this bill if the Senate and House fail to pass a budget their pay simply goes into escrow and they'll be paid at the end of this Congress in 2015.
Wednesday, January 23 2013, 08:04 PM CST
2 appellate court judges are stepping down
May 24, 2013 21:29 GMT
NASHVILLE, Tenn. (AP) -- Two Tennessee appellate court judges have notified Gov. Bill Haslam that they will not run for another term on the bench in the August 2014 retention election.
Patricia J. Cottrell, a judge on the Court of Appeals, and Joseph M. Tipton, who sits on the Court of Criminal Appeals bench, will both leave after September of next year.
The announcements come after the state legislature left Tennessee without a way to replace judges who step down or die when a commission expires at the end of next month.
Members of the soon-to-be-defunct Judicial Nominating Commission will make recommendations for replacements to give to Haslam before the panel expires. Haslam will appoint the replacements from those recommendations.
US durable goods orders rise 3.3 percent in April
WASHINGTON (AP) -- U.S. orders for long-lasting manufactured goods rebounded in April, buoyed by more demand for military and civilian aircraft and an increase in business investment.
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Dow Record: Three tales of ups, downs and changes
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By SCOTT MAYEROWITZ
AP Business Writer
NEW YORK (AP) -- When the Dow first crossed 14,000, investors were overjoyed. ...
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