Obama budget sets up election-year tax fight
Monday, February 13th, 2012 at
7:18 pm
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WASHINGTON (Reuters) – President Barack Obama called on Monday for new spending to boost growth and higher taxes on the rich, laying out an election-year vision for America in a budget that drew heavy fire from Republicans for failing to curb huge deficits. Obama’s 2013 spending proposal is expected to go nowhere in a divided Congress and is widely seen as more of a campaign document that frames his economic pitch to voters and seeks to shift the focus from deficits to economic growth. It fleshed out a major theme of his re-election campaign: “economic fairness. …
BIRMINGHAM, Alabama (Reuters) – A man from Uzbekistan living illegally in the United States pleaded guilty on Friday to terrorism and weapons charges involving a plot to kill President Barack Obama. According to court evidence, defendant Ulugbek Kodirov believed he was acting on behalf of an Islamist militant group in his homeland and was plotting to shoot Obama while the president campaigned for re-election this year. Kodirov 22, pleaded guilty in U.S. District Court in Birmingham, Alabama, to three charges as part of an agreement that spares him from a potential life sentence. …
WASHINGTON (Reuters) – Timothy Dolan, a senior U.S. Roman Catholic leader, said on Thursday President Barack Obama “gave me promises” during a White House meeting in November as Dolan pressed the Church’s criticism of a new Obama administration rule requiring health insurance plans to cover birth control. Dolan, the archbishop of New York who has been designated by Pope Benedict for elevation to cardinal, said he now questions whether he can work with Obama to settle an issue that has erupted into a political controversy. …
WASHINGTON (Reuters) – The Obama administration, in an election-year bid to help distressed homeowners, on Friday expanded its main foreclosure prevention program, and pushed for Fannie Mae and Freddie Mac to forgive mortgage debt. The administration said it would extend the life of the Home Affordable Mortgage Program by a year through 2013 and widen it to reach more heavily indebted homeowners. …
WASHINGTON (Reuters) – The Obama administration on Friday expanded its main foreclosure prevention program and pushed to open it up to loans backed by mortgage giants Fannie Mae and Freddie Mac, a move that could meet resistance from their regulator. In a joint announcement, the Treasury and Housing and Urban Development departments proposed using money from the Home Affordable Modification Program to provide incentives for Fannie Mae and Freddie Mac to reduce loan principal. Government-controlled Fannie Mae and Freddie Mac own or guarantee about half of all U.S. …