U.S. House to vote on nation's debt limit increase Jan 23January 21, 2013 - 21:31 AMT PanARMENIAN.Net - The U.S. House is scheduled to vote Wednesday, Jan 23 on an increase in the nation's debt limit, a move designed to prevent a first-ever government default, The Associated Press reports. The vote marks a change in strategy for House Republicans who run the chamber and who remain adamant about reducing government spending but decided not to use the debt limit to trigger a confrontation with President Barack Obama. Instead, they have said the debt increase measure will require the House and Senate to approve budgets that call for spending cuts, with pay withheld for lawmakers in either house that failed to do so. The current debt limit is $16.4 trillion. The legislation does not set a specific limit; rather it would automatically increase the limit by the amount required to fund U.S. government obligations through May 18. But that date is not likely a hard deadline because the Treasury would retain a limited ability to exercise so-called extraordinary measures and juggle certain accounts to buy limited additional time before a default on U.S. obligations. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |