04:59 ET<\/span><\/span><\/p>\nUS Treasury Secretary Timothy Geithner has secured more time for Congress to negotiate a deal to increase the borrowing limit of the US.<\/p>\n
Stalemate over the talks means the US risks defaulting on its debts because it will be unable to borrow beyond its $14.3 trillion (\u00a38.6tn) limit.<\/p>\n
Mr Geithner had previously said the deadline for a deal was 8 July.<\/p>\n
But in a letter to Congress he said that better tax receipts meant the deadline could be extended to 2 August.<\/p>\n
Republicans want to tie any agreement on the US budget to spending cuts, especially in the healthcare programme.<\/p>\n
The Obama administration has proposed a $4tn package of budget cuts, but the Republicans say they do not go far enough.<\/p>\n
Despite pushing back the deadline, Mr Geithner nevertheless warned Congress of the need for a urgent resolution to the impasse.<\/p>\n
He said in his letter: “While this updated estimate in theory gives Congress additional time to complete work on increasing the debt limit, I caution strongly against delaying action.”<\/p>\n
Last month, ratings agency Standard & Poor’s warned that the failure to agree a budget deal was damaging the financial credibility of the US.<\/p>\n
In a surprise move, which hit share prices on both sides of the Atlantic, S&P downgraded its US credit rating outlook from stable to negative, increasing the likelihood that the rating could be cut within the next two years.<\/p>\n<\/div>\n
See original here:
\nMore time to reach US budget deal<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" 3 May 2011 Last updated at 04:59 ET US Treasury Secretary Timothy Geithner has secured more time for Congress to negotiate a deal to increase the borrowing limit of the US. Stalemate over the talks means the US risks defaulting on its debts because it will be unable to borrow beyond its $14.3 trillion (\u00a38.6tn) limit. <\/p>\n","protected":false},"author":0,"featured_media":416062,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":{"0":"post-416061","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-local-news"},"yoast_head":"\n
More time to reach US budget deal - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/05\/03\/more-time-to-reach-us-budget-deal\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"More time to reach US budget deal - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"3 May 2011 Last updated at 04:59 ET US Treasury Secretary Timothy Geithner has secured more time for Congress to negotiate a deal to increase the borrowing limit of the US. Stalemate over the talks means the US risks defaulting on its debts because it will be unable to borrow beyond its $14.3 trillion (\u00a38.6tn) limit.\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/05\/03\/more-time-to-reach-us-budget-deal\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/05\/03\/more-time-to-reach-us-budget-deal\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"More time to reach US budget deal\",\"datePublished\":\"2011-05-03T08:59:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/05\/03\/more-time-to-reach-us-budget-deal\/\"},\"wordCount\":253,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/05\/03\/more-time-to-reach-us-budget-deal\/#primaryimage\"},\"thumbnailUrl\":\"\",\"articleSection\":[\"Local News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/05\/03\/more-time-to-reach-us-budget-deal\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/05\/03\/more-time-to-reach-us-budget-deal\/\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/05\/03\/more-time-to-reach-us-budget-deal\/\",\"name\":\"More time to reach US budget deal - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/05\/03\/more-time-to-reach-us-budget-deal\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/05\/03\/more-time-to-reach-us-budget-deal\/#primaryimage\"},\"thumbnailUrl\":\"\",\"datePublished\":\"2011-05-03T08:59:48+00:00\",\"author\":{\"@id\":\"\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/05\/03\/more-time-to-reach-us-budget-deal\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/05\/03\/more-time-to-reach-us-budget-deal\/#primaryimage\",\"url\":\"\",\"contentUrl\":\"\"},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/#website\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/\",\"name\":\"Ghanamma.com\",\"description\":\"News In Ghana - Latest Ghana News Headlines\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.ghanamma.com\/2011\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"More time to reach US budget deal - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2011\/05\/03\/more-time-to-reach-us-budget-deal\/","twitter_card":"summary_large_image","twitter_title":"More time to reach US budget deal - Ghanamma.com","twitter_description":"3 May 2011 Last updated at 04:59 ET US Treasury Secretary Timothy Geithner has secured more time for Congress to negotiate a deal to increase the borrowing limit of the US. Stalemate over the talks means the US risks defaulting on its debts because it will be unable to borrow beyond its $14.3 trillion (\u00a38.6tn) limit.","twitter_creator":"@ghanamma","twitter_site":"@ghanamma","twitter_misc":{"Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ghanamma.com\/2011\/05\/03\/more-time-to-reach-us-budget-deal\/#article","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2011\/05\/03\/more-time-to-reach-us-budget-deal\/"},"author":{"name":"","@id":""},"headline":"More time to reach US budget deal","datePublished":"2011-05-03T08:59:48+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ghanamma.com\/2011\/05\/03\/more-time-to-reach-us-budget-deal\/"},"wordCount":253,"commentCount":0,"image":{"@id":"https:\/\/www.ghanamma.com\/2011\/05\/03\/more-time-to-reach-us-budget-deal\/#primaryimage"},"thumbnailUrl":"","articleSection":["Local News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.ghanamma.com\/2011\/05\/03\/more-time-to-reach-us-budget-deal\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.ghanamma.com\/2011\/05\/03\/more-time-to-reach-us-budget-deal\/","url":"https:\/\/www.ghanamma.com\/2011\/05\/03\/more-time-to-reach-us-budget-deal\/","name":"More time to reach US budget deal - Ghanamma.com","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2011\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.ghanamma.com\/2011\/05\/03\/more-time-to-reach-us-budget-deal\/#primaryimage"},"image":{"@id":"https:\/\/www.ghanamma.com\/2011\/05\/03\/more-time-to-reach-us-budget-deal\/#primaryimage"},"thumbnailUrl":"","datePublished":"2011-05-03T08:59:48+00:00","author":{"@id":""},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ghanamma.com\/2011\/05\/03\/more-time-to-reach-us-budget-deal\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ghanamma.com\/2011\/05\/03\/more-time-to-reach-us-budget-deal\/#primaryimage","url":"","contentUrl":""},{"@type":"WebSite","@id":"https:\/\/www.ghanamma.com\/2011\/#website","url":"https:\/\/www.ghanamma.com\/2011\/","name":"Ghanamma.com","description":"News In Ghana - Latest Ghana News Headlines","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ghanamma.com\/2011\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/posts\/416061","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/comments?post=416061"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/posts\/416061\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/posts\/416062"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/media?parent=416061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/categories?post=416061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/tags?post=416061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}