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Boehner debt plan falters, Obama considers veto

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 was delayed from Wednesday after doubts arose over the cuts it proposed.

Washington remains deadlocked as a deadline to increase the government’s borrowing authority looms on 2 August.

BBC News

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May
24
Today’s Global
Market Events
8:30am

CAD
Corporate Profits q/q
9.0%
USD
Core Durable Goods Orders m/m
1.1% vs. -0.8%
USD
Unemployment Claims
372K vs. 370K
USD
Durable Goods Orders m/m
0.5% vs. -4.0%
9:00am

EUR
ECB President Draghi Speaks
EUR
Belgium NBB Business Climate
-10.6 vs. -10.7
10:30am

USD
FOMC Member Dudley Speaks
USD
Natural Gas Storage
77B vs. 61B
1:00pm

USD
FOMC Member Dudley Speaks
3:00pm

USD
Treasury Sec Geithner Speaks
7:30pm

JPY
Tokyo Core CPI y/y
-0.5% vs. -0.5%
JPY
National Core CPI y/y
0.1% vs. 0.2%