WASHINGTON (AP) -- With tacit support from President Barack Obama, House Republicans are moving to try to defuse a potential debt crisis with legislation to prevent an economy-rattling fiscal crisis for at least three months.
The GOP legislation marks a tactical retreat by House Speaker John Boehner, R-Ohio, who is eager to avoid a potential first-ever default on U.S. payment and debt obligations as he wrestles with Obama and his Democratic allies over taxes, spending and the deficit.
ALBANY, N.Y. — The New York comptroller says the state government's debt has topped $63 billion, with New York on track to approach its borrowing limit in early 2014.
Comptroller Thomas DiNapoli says Monday the debt burden, averaging $3,253 per resident, is almost three times the national median. New York's debt is second only to California's $96.4 billion in state-funded debt and 80 percent higher than New Jersey, which is in third place.