CNN 2011-07-31

In Washington, the only movement seems to be another step closer to the August 2nd deadline. In less than six days the federal government could run out of money and default on its bills. Next hour on Capitol Hill, the doom's day scenario is laid out.

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This is the VOA Special English Economics Report. Treasury Secretary Henry Paulson announces the proposal on March 31, 2008 This week, the Bush administration proposed major changes to the way the financial system is supervised. Treasury Secretary He

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The turning of the calendar is both arbitrary and powerful. Each day is just another day, but when the year resets we feel like the slate is cleaned and we can begin anew. 日历牌的翻页既随意又意义重大。日子一天天地过去，但新的

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U.S. President George Bush says he is confident there will be a deal to rescue America's troubled financial sector, a day after lawmakers failed to pass his $700 billion plan. VOA White House Correspondent Scott Stearns reports, the bill's failure l

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President Barack Obamas proposed government budget calls for a slightly higher U.S. deficit for the remainder of this year, then a smaller deficit next year. The president will unveil his budget plan on Monday. An outline of the presidents budget, re

Obama Proposes $3 Trillion Deficit, Debt Plan

Presenting his second major set of economic proposals in 10 days, President Barack Obama has unveiled a plan for more than $3 trillion in spending reductions over the next decade, saying all Americans, and specifically the wealthy, will be asked to s

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Obama Jobs Plan Faces Congressional Hurdles

One week after U.S. President Barack Obama urged Congress to act swiftly to spur job creation and economic growth, bipartisan backing for his proposals has yet to materialize. The presidents package of temporary tax cuts and short-term additional fed

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Daunting hurdles remain for two legislative plans to cut U.S. government spending, raise the federal borrowing limit and avert a national debt crisis experts warn that could stall Americas fragile economic recovery and send financial shock waves arou