The Herald Bulletin

Afternoon Update

Breaking News

February 16, 2014

Obama signs debt ceiling measure into law

RANCHO MIRAGE, Calif. — President Barack Obama on Saturday signed separate measures into law to lift the federal debt limit and restore benefits that had been cut for younger military retirees.

Obama signed the bills during a weekend golf vacation in Southern California.

The debt limit measure allows the government to borrow money to pay its bills, such as Social Security benefits and federal salaries. Failure to pass the measure, which the Senate passed 67-31 earlier this week and sent to Obama for his signature, most likely would have sent the stock market into a nosedive.

The Treasury Department is now free to borrow regularly through March 15, 2015, meaning lawmakers won't have to revisit the issue until a new Congress is sworn in after the November elections.

Separate legislation passed in December would have held annual cost-of-living increases for veterans age 62 and younger to 1 percentage point below the rate of inflation, beginning in 2015. The measure was designed to hold the line on the soaring cost of government benefit programs, which have largely escaped trillions of dollars in deficit cuts over the past three years.

The cuts were enacted less than two months ago, with a projected savings to the government of $7 billion over a decade. Veterans groups and some lawmakers said the cut was a mistake, and they began campaigning to have the benefits restored.

The pensions go to veterans who retire after 20 years of service, regardless of their age. Nearly 2 million retirees currently are eligible, including about 840,000 under age 62, according to the Pentagon.

For a sergeant first class who leaves the service at age 42 after two decades, the bill passed in December would have meant an estimated $72,000 in reduced pension payments.

Quick action by lawmakers on this year's debt limit bill stands in contrast to lengthy showdowns in 2012 and last fall, when Republicans sought to use the must-pass bill as leverage to win concessions from Obama. They succeeded in 2011, winning about $2 trillion in spending cuts. But Obama has been unwilling to negotiate over the debt limit since his re-election in 2012.

The bill he signed Saturday is the third consecutive debt measure to pass Congress without concessions from the White House.

Republicans also have been less confrontational since a 16-day partial government shutdown last October sent the party's poll numbers skidding.

Both bills were flown out to Obama in California late Friday night, a White House aide said.

 

1
Text Only
Breaking News
  • Toyota to boost SUV production at Indiana factory Toyota says it will spend $100 million to boost production of the Highlander SUV at its southwestern Indiana factory, with plans to add 300 workers in the next couple of years.

    August 22, 2014

  • 18 people rescued from flooded Indiana homes Northwestern Indiana police say firefighters used boats to rescue 18 people after flood waters from heavy overnight rains surrounded their homes.

    August 22, 2014

  • NWS -  HB0823 - Fire-Rozelle Johnson - JC 28a.jpg Lightning might have caused Anderson funeral home fire

    A lightning strike is suspected of starting a fire at Rozelle-Johnson Funeral Services, Ind. 32 and Rangeline Road, early Friday morning.

    August 22, 2014 3 Photos

  • Teams test out a new helmet, but does it work?

    Arkansas coach Bret Bielema proudly posted a message on Twitter last spring that featured the Razorbacks' new helmets — a futuristic design by Riddell called the SpeedFlex that is supposed to be the latest in head protection.

    August 22, 2014

  • Airline group forecasts uptick in Labor Day travel

    A trade group for the nation's big airlines predicts that air travel over the Labor Day weekend will rise 2 percent from the same holiday last year.

    August 22, 2014

  • Some US colleges calling students back from Israel

    Some U.S. colleges are pulling students from overseas study programs in Israel as the Gaza war rages, though the relative calm beyond the immediate battle areas is raising questions in some quarters about why they had to leave.

    August 21, 2014

  • Instant noodles: Friend or foe?

    Kim Min-koo has an easy reply to new American research that hits South Korea where it hurts — in the noodles. "There's no way any study is going to stop me from eating this," says Kim.

    August 21, 2014

  • Ohio diocese discourages ALS ice bucket challenge

    A Roman Catholic diocese in Ohio is discouraging its 113 schools from participating in the ice bucket challenge to benefit the ALS Association, saying the group's funding of embryonic stem cell research is "in direct conflict with Catholic teaching."

    August 21, 2014

  • Charter school to close after cheating revealed

    One of Indianapolis' oldest charter schools will close next month, after an investigation uncovered widespread cheating on its students' state standardized tests in 2013 and 2014.

    August 21, 2014

  • Severe thunderstorm watch until midnight

    The National Weather Service has issued a severe thunderstorm watch for portions of central Indiana, including Madison County.

    August 21, 2014

Featured Ads
More Resources from The Herald Bulletin
AP Video
Japan Landslide Rescuers Struggle in Heavy Rain Raw: Severe Floods, Fire Wrecks Indiana Homes Endangered Red Wolves Face Uncertain Future Raw: Russian Aid Convoy Arrives in Ukraine Hamm Talks Emmy Chances Okla. Policeman Accused of Sex Assaults on Duty Raw: Egypt Bus Crash Kills at Least 33 Two Bodies Found in Adjacent Yards Dominican Republic Bans Miley Cyrus Concert Raw: Israeli Air Strike in Gaza Raw: Rescue Efforts Suspended at Japan Landslide Raw: Bodies of MH17 Victims Arrive in Malaysia Raw: Smaller Marches in Ferguson Attorney: Utah Eatery Had Other Chemical Burn Farm Resurgence Grows With Younger Crowd Microbrewery Chooses Special Can for Its Beer Ky. Firefighters Hurt in Ice Bucket Challenge Federal Investigation Will Look at Use of Force Community Deals With Michael Brown Aftermath US: We Do Not Pay Ransom to Terrorists
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Helium debate
Helium
Front page
Poll

Generally speaking, how good are relations among people of different races in the Anderson area?

Very good
Good
OK
Bad
Very bad
     View Results