White House warns that Obama may veto on a debt plan

Vashon : WA : USA | Jul 27, 2011 at 1:51 AM PDT

By safdarjaved

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President Obama's News Conference on Deficit Reduction

In the United States, the White House has warned that President Obama could veto a debt limit plan proposed by top House Republicans.

Meanwhile, Speaker John Boehner's plan to trim public spending and raise the limit met with resistance from rank-and-file members of his own party.

A House of Representatives vote on the plan has been delayed after doubts arose over the cuts it proposed.

Washington remains deadlocked as a deadline to increase the government's borrowing authority looms on the 2nd of next month.

The US runs a budget deficit that topped 1.5 trillion dollars this year, and has amassed a national debt of 14.3 trillion dollars.

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safdarjaved is based in Rāwalpindi, Punjab, Pakistan, and is a Stringer for Allvoices.

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White House warns that Obama ...

White House warns that Obama ...

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debt
The US government reached its ...

The US government reached its ...

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The US government reached its debt limit of $14.29 trillion in May
Obama is seeking to reduce ...

Obama is seeking to reduce ...

Image Source: www.afp.com

Obama is seeking to reduce the deficit by $4 trillion over 10 years