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Obama and Biden Meet Commission on Fiscal Responsibility

United States President Barack Obama holds a meeting in the Oval Office of the White House in Washington, D.C. on April; 14, 2011 with Vice President Joe Biden, Secretary of Treasury Timothy Geithner, Erskine Bowles and Alan Simpson, the co-chairs of President Obama's National Commission on Fiscal Responsibility and Reform..Photo by Gary Fabiano / Pool via CNP/ABACAPRESS.COM

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Obama and Biden Meet Commission on Fiscal Responsibility

United States President Barack Obama holds a meeting in the Oval Office of the White House in Washington, D.C. on April; 14, 2011 with Vice President Joe Biden, Secretary of Treasury Timothy Geithner, Erskine Bowles and Alan Simpson, the co-chairs of President Obama's National Commission on Fiscal Responsibility and Reform..Photo by Gary Fabiano / Pool via CNP/ABACAPRESS.COM

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Obama Creates Fiscal Commission

United States President Barack Obama delivers remarks and then signs an executive order creating the bipartisan National Commission on Fiscal Responsibility and Reform on Thursday, February 18, 2010. The event was held in the Diplomatic Reception Room. Vice President Joe Biden was also on hand for the event as well as the co-chairs, Erskine Bowles and Alan Simpson. .Photo by Gary Fabiano / Pool via CNP/ABACAPRESS.COM

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Obama and Biden Meet Commission on Fiscal Responsibility

United States President Barack Obama holds a meeting in the Oval Office of the White House in Washington, D.C. on April; 14, 2011 with Vice President Joe Biden, Secretary of Treasury Timothy Geithner, Erskine Bowles and Alan Simpson, the co-chairs of President Obama's National Commission on Fiscal Responsibility and Reform..Photo by Gary Fabiano / Pool via CNP/ABACAPRESS.COM

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Obama and Biden Meet Commission on Fiscal Responsibility

United States President Barack Obama holds a meeting in the Oval Office of the White House in Washington, D.C. on April; 14, 2011 with Vice President Joe Biden, Secretary of Treasury Timothy Geithner, Erskine Bowles and Alan Simpson, the co-chairs of President Obama's National Commission on Fiscal Responsibility and Reform..Photo by Gary Fabiano / Pool via CNP/ABACAPRESS.COM

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Obama Creates Fiscal Commission

United States President Barack Obama delivers remarks and then signs an executive order creating the bipartisan National Commission on Fiscal Responsibility and Reform on Thursday, February 18, 2010. The event was held in the Diplomatic Reception Room. Vice President Joe Biden was also on hand for the event as well as the co-chairs, Erskine Bowles and Alan Simpson. .Photo by Gary Fabiano / Pool via CNP/ABACAPRESS.COM

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Obama and Biden Meet Commission on Fiscal Responsibility

United States President Barack Obama holds a meeting in the Oval Office of the White House in Washington, D.C. on April; 14, 2011 with Vice President Joe Biden, Secretary of Treasury Timothy Geithner, Erskine Bowles and Alan Simpson, the co-chairs of President Obama's National Commission on Fiscal Responsibility and Reform..Photo by Gary Fabiano / Pool via CNP/ABACAPRESS.COM

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Obama Creates Fiscal Commission

United States President Barack Obama delivers remarks and then signs an executive order creating the bipartisan National Commission on Fiscal Responsibility and Reform on Thursday, February 18, 2010. The event was held in the Diplomatic Reception Room. Vice President Joe Biden was also on hand for the event as well as the co-chairs, Erskine Bowles and Alan Simpson. .Photo by Gary Fabiano / Pool via CNP/ABACAPRESS.COM

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Former US Senator Joe Lieberman Dies At 82

File photo - Former Presidential candidate Senator John McCain (R) and Senator Joe Lieberman attend the opening of the Fiscal Responsibility Summit hosted by US President Barack Obama in the East Room of the White House in Washington, DC, USA on February 23, 2009. - Former US Senator and vice-presidential candidate Joe Lieberman has died at 82. The cause was complications from a fall, according to a family statement obtained by CBS News, the BBC's US partner. The centrist represented the state of Connecticut in the Senate for nearly a quarter of a century. Mr Lieberman became the first Jewish politician to join a major party US presidential ticket in 2000 when Al Gore selected him as his running mate. Photo by Olivier Douliery/ABACAPRESS.COM

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U.S. debt-ceiling saga a political theatre-in-the-round: Turkish expert

STORY: U.S. debt-ceiling saga a political theatre-in-the-round: Turkish expert DATELINE: June 11, 2023 LENGTH: 00:01:55 LOCATION: ISTANBUL, Türkiye CATEGORY: POLITICS SHOTLIST: 1. various of views in the U.S. 2. SOUNDBITE 1 (Turkish): SANT MANUKYAN, Analyst with Is Yatirim, the investment banking arm of Isbank Group in Istanbul 3. various of views in the U.S. 4. SOUNDBITE 2 (Turkish): SANT MANUKYAN, Analyst with Is Yatirim, the investment banking arm of Isbank Group in Istanbul STORYLINE: The latest U.S. debt-ceiling saga is nothing but a political theatre-in-the-round, revealing the deficiency of the country's two-party system, said a Turkish analyst. U.S. President Joe Biden signed the Fiscal Responsibility Act of 2023 into law a week ago to avoid a historic default on government debt. The bipartisan act suspends the public debt limit through Jan. 1, 2025 and increases the limit to the actual debt level on Jan. 2, 2025. Since 1945, the United States has raised its debt ceiling 103 times. SOUNDBITE 1

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Biden signs bill to raise U.S. debt limit

STORY: Biden signs bill to raise U.S. debt limit DATELINE: June 4, 2023 LENGTH: 00:01:21 LOCATION: Washington D.C. CATEGORY: ECONOMY SHOTLIST: 1. photo of Biden signing the bill (White House Photo) 2. various of exterior of the White House 3. various of U.S. Senate voting on the bill 4. various of U.S. House of Representatives voting on the bill 5. various of exterior of the U.S. Capitol STORYLINE: U.S. President Joe Biden signed Fiscal Responsibility Act of 2023 into law Saturday afternoon so as to avoid a historic default on government debt. The bipartisan act suspends the public debt limit through Jan. 1, 2025, and increases the limit to the actual debt level on Jan. 2, 2025. According to Goldman Sachs, a global investment bank, U.S. total federal government debt would exceed 35 trillion U.S. dollars by January 2025, which equals more than 100,000 dollars for each U.S. citizen. "This bipartisan agreement is a big win for our economy and the American people," Biden said just moments after the Senate p

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U.S. House nods bipartisan debt ceiling deal

STORY: U.S. House nods bipartisan debt ceiling deal DATELINE: June 1, 2023 LENGTH: 00:01:05 LOCATION: Washington D.C. CATEGORY: POLITICS SHOTLIST: 1. various of the U.S. House of Representatives voting on the bill 2. various of exterior of the U.S. Capitol STORYLINE: The U.S. House of Representatives Wednesday passed an act which suspends application of federal government debt ceiling until Jan. 1, 2025. Lawmakers voted to pass the bill 314 to 117 after it was introduced to the Congress late Sunday. Entitled The Fiscal Responsibility Act of 2023, the act still needs approval by the U.S. Senate and the signing by U.S. President Joe Biden so as to avoid a historic default on government debt. The United States hit its 31.4-trillion-U.S.-dollar debt limit in January and is expected to default on its debt obligations by June 5 without raising or suspending the debt limit. Xinhua News Agency correspondents reporting from Washington D.C. (XHTV)

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Kevin McCarthy on Fiscal Responsibility Act - Washington

House Speaker Kevin McCarthy (R-CA) arrives at a press conference after the House approved H.R. 3746 - the Fiscal Responsibility Act on Capitol Hill in Washington on May 31, 2023. Photo by Yuri Gripas/ABACAPRESS.COM

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Kevin McCarthy on Fiscal Responsibility Act - Washington

House Speaker Kevin McCarthy (R-CA) speaks at a press conference after the House approved H.R. 3746 - the Fiscal Responsibility Act on Capitol Hill in Washington on May 31, 2023. Photo by Yuri Gripas/ABACAPRESS.COM

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Kevin McCarthy on Fiscal Responsibility Act - Washington

Majority Leader Steve Scalise (R-LA) speaks at a press conference with House Speaker Kevin McCarthy (R-CA) after the House approved H.R. 3746 - the Fiscal Responsibility Act on Capitol Hill in Washington on May 31, 2023. Photo by Yuri Gripas/ABACAPRESS.COM

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Kevin McCarthy on Fiscal Responsibility Act - Washington

House Speaker Kevin McCarthy (R-CA) smiles as House Majority Leader Steve Scalise (R-LA) speaks at a press conference after the House approved H.R. 3746 - the Fiscal Responsibility Act on Capitol Hill in Washington on May 31, 2023. Photo by Yuri Gripas/ABACAPRESS.COM

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Kevin McCarthy on Fiscal Responsibility Act - Washington

House Speaker Kevin McCarthy (R-CA) smiles as House Majority Leader Steve Scalise (R-LA) speaks at a press conference after the House approved H.R. 3746 - the Fiscal Responsibility Act on Capitol Hill in Washington on May 31, 2023. Photo by Yuri Gripas/ABACAPRESS.COM

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Kevin McCarthy on Fiscal Responsibility Act - Washington

House Speaker Kevin McCarthy (R-CA) speaks during a press conference after the House approved H.R. 3746 - the Fiscal Responsibility Act on Capitol Hill in Washington on May 31, 2023. Photo by Yuri Gripas/ABACAPRESS.COM

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Kevin McCarthy on Fiscal Responsibility Act - Washington

House Speaker Kevin McCarthy (R-CA) reacts during a press conference with GOP leaders after the House approved H.R. 3746 - the Fiscal Responsibility Act on Capitol Hill in Washington on May 31, 2023. Photo by Yuri Gripas/ABACAPRESS.COM

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Kevin McCarthy on Fiscal Responsibility Act - Washington

House Speaker Kevin McCarthy (R-CA) speaks during a press conference after the House approved H.R. 3746 - the Fiscal Responsibility Act on Capitol Hill in Washington on May 31, 2023. Photo by Yuri Gripas/ABACAPRESS.COM

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Kevin McCarthy on Fiscal Responsibility Act - Washington

House Speaker Kevin McCarthy (R-CA) speaks during a press conference after the House approved H.R. 3746 - the Fiscal Responsibility Act on Capitol Hill in Washington on May 31, 2023. Photo by Yuri Gripas/ABACAPRESS.COM

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Kevin McCarthy on Fiscal Responsibility Act - Washington

House Speaker Kevin McCarthy (R-CA) smiles as House Majority Leader Steve Scalise (R-LA) speaks at a press conference after the House approved H.R. 3746 - the Fiscal Responsibility Act on Capitol Hill in Washington on May 31, 2023. Photo by Yuri Gripas/ABACAPRESS.COM

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Kevin McCarthy on Fiscal Responsibility Act - Washington

House Speaker Kevin McCarthy (R-CA) speaks during a press conference after the House approved H.R. 3746 - the Fiscal Responsibility Act on Capitol Hill in Washington on May 31, 2023. Photo by Yuri Gripas/ABACAPRESS.COM

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Kevin McCarthy on Fiscal Responsibility Act - Washington

House Speaker Kevin McCarthy (R-CA) with House Majority Leader Steve Scalise (R-LA) arrives at a press conference after the House approved H.R. 3746 - the Fiscal Responsibility Act on Capitol Hill in Washington on May 31, 2023. Photo by Yuri Gripas/ABACAPRESS.COM

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Kevin McCarthy on Fiscal Responsibility Act - Washington

House Speaker Kevin McCarthy (R-CA) speaks during a press conference after the House approved H.R. 3746 - the Fiscal Responsibility Act on Capitol Hill in Washington on May 31, 2023. Photo by Yuri Gripas/ABACAPRESS.COM

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Kevin McCarthy on Fiscal Responsibility Act - Washington

House Speaker Kevin McCarthy (R-CA) speaks during a press conference after the House approved H.R. 3746 - the Fiscal Responsibility Act on Capitol Hill in Washington on May 31, 2023. Photo by Yuri Gripas/ABACAPRESS.COM

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Kevin McCarthy on Fiscal Responsibility Act - Washington

House Speaker Kevin McCarthy (R-CA) speaks during a press conference after the House approved H.R. 3746 - the Fiscal Responsibility Act on Capitol Hill in Washington on May 31, 2023. Photo by Yuri Gripas/ABACAPRESS.COM

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Kevin McCarthy on Fiscal Responsibility Act - Washington

House Speaker Kevin McCarthy (R-CA) speaks during a press conference after the House approved H.R. 3746 - the Fiscal Responsibility Act on Capitol Hill in Washington on May 31, 2023. Photo by Yuri Gripas/ABACAPRESS.COM

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Kevin McCarthy on Fiscal Responsibility Act - Washington

House Speaker Kevin McCarthy (R-CA) speaks during a press conference after the House approved H.R. 3746 - the Fiscal Responsibility Act on Capitol Hill in Washington on May 31, 2023. Photo by Yuri Gripas/ABACAPRESS.COM

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Kevin McCarthy on Fiscal Responsibility Act - Washington

House Speaker Kevin McCarthy (R-CA) speaks during a press conference after the House approved H.R. 3746 - the Fiscal Responsibility Act on Capitol Hill in Washington on May 31, 2023. Photo by Yuri Gripas/ABACAPRESS.COM

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Kevin McCarthy on Fiscal Responsibility Act - Washington

House Speaker Kevin McCarthy (R-CA) speaks during a press conference after the House approved H.R. 3746 - the Fiscal Responsibility Act on Capitol Hill in Washington on May 31, 2023. Photo by Yuri Gripas/ABACAPRESS.COM

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Kevin McCarthy on Fiscal Responsibility Act - Washington

House Speaker Kevin McCarthy (R-CA) speaks during a press conference after the House approved H.R. 3746 - the Fiscal Responsibility Act on Capitol Hill in Washington on May 31, 2023. Photo by Yuri Gripas/ABACAPRESS.COM

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Kuwashima named as new president of Nikko Cordial

TOKYO, Japan - Nikko Cordial Corp. said Dec. 25 it has decided to appoint Chief Information Technology Officer Shoji Kuwashima (file photo) as its president effective Dec. 26 to replace Junichi Arimura who is stepping down to take responsibility for the falsification of group earnings for fiscal 2004.

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2 top Nikko Cordial executives to resign

TOKYO, Japan - Nikko Cordial Corp. President Junichi Arimura (R) and Chairman Masashi Kaneko (L) speak on the falsification of group earnings for fiscal 2004 during a news conference in Tokyo on Dec. 25. The two executives will step down to take responsibility for the falsification.

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Senate Hearings - Washington

Scott A. Hodge, President, Tax Foundation, appears before a Senate Committee on Finance - Subcommittee on Fiscal Responsibility and Economic Growth hearing to examine creating opportunity through a fairer tax system, in the Dirksen Senate Office Building in Washington, DC, USA, Tuesday, April, 27, 2021. Photo by Rod Lamkey/CNP/ABACAPRESS.COM

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Senate Hearings - Washington

Scott A. Hodge, President, Tax Foundation, appears before a Senate Committee on Finance - Subcommittee on Fiscal Responsibility and Economic Growth hearing to examine creating opportunity through a fairer tax system, in the Dirksen Senate Office Building in Washington, DC, USA, Tuesday, April, 27, 2021. Photo by Rod Lamkey/CNP/ABACAPRESS.COM

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Senate Hearings - Washington

Scott A. Hodge, President, Tax Foundation, appears before a Senate Committee on Finance - Subcommittee on Fiscal Responsibility and Economic Growth hearing to examine creating opportunity through a fairer tax system, in the Dirksen Senate Office Building in Washington, DC, USA, Tuesday, April, 27, 2021. Photo by Rod Lamkey/CNP/ABACAPRESS.COM

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Senate Hearings - Washington

Scott A. Hodge, President, Tax Foundation, appears before a Senate Committee on Finance - Subcommittee on Fiscal Responsibility and Economic Growth hearing to examine creating opportunity through a fairer tax system, in the Dirksen Senate Office Building in Washington, DC, USA, Tuesday, April, 27, 2021. Photo by Rod Lamkey/CNP/ABACAPRESS.COM

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Senate Hearings - Washington

Scott A. Hodge, President, Tax Foundation, appears before a Senate Committee on Finance - Subcommittee on Fiscal Responsibility and Economic Growth hearing to examine creating opportunity through a fairer tax system, in the Dirksen Senate Office Building in Washington, DC, USA, Tuesday, April, 27, 2021. Photo by Rod Lamkey/CNP/ABACAPRESS.COM

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Senate Hearings - Washington

Scott A. Hodge, President, Tax Foundation, appears before a Senate Committee on Finance - Subcommittee on Fiscal Responsibility and Economic Growth hearing to examine creating opportunity through a fairer tax system, in the Dirksen Senate Office Building in Washington, DC, USA, Tuesday, April, 27, 2021. Photo by Rod Lamkey/CNP/ABACAPRESS.COM

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Senate Hearings - Washington

Scott A. Hodge, President, Tax Foundation, appears before a Senate Committee on Finance - Subcommittee on Fiscal Responsibility and Economic Growth hearing to examine creating opportunity through a fairer tax system, in the Dirksen Senate Office Building in Washington, DC, USA, Tuesday, April, 27, 2021. Photo by Rod Lamkey/CNP/ABACAPRESS.COM

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Senate Hearings - Washington

Scott A. Hodge, President, Tax Foundation, appears before a Senate Committee on Finance - Subcommittee on Fiscal Responsibility and Economic Growth hearing to examine creating opportunity through a fairer tax system, in the Dirksen Senate Office Building in Washington, DC, USA, Tuesday, April, 27, 2021. Photo by Rod Lamkey/CNP/ABACAPRESS.COM

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2 top Nikko Cordial executives to resign

TOKYO, Japan - Nikko Cordial Corp. President Junichi Arimura (R) and Chairman Masashi Kaneko (L) speak on the falsification of group earnings for fiscal 2004 during a news conference in Tokyo on Dec. 25. The two executives will step down to take responsibility for the falsification. (Kyodo)

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Kuwashima named as new president of Nikko Cordial

TOKYO, Japan - Nikko Cordial Corp. said Dec. 25 it has decided to appoint Chief Information Technology Officer Shoji Kuwashima (file photo) as its president effective Dec. 26 to replace Junichi Arimura who is stepping down to take responsibility for the falsification of group earnings for fiscal 2004. (Kyodo)

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Ex-Environment Minister Ishihara to succeed Amari

Former Environment Minister Nobuteru Ishihara speaks to reporters at the prime minister's office in Tokyo on Jan. 28, 2016, after Prime Minister Shinzo Abe decided to appoint him to succeed Akira Amari as economic and fiscal policy minister. At a news conference earlier, Amari said he will step down from his post to take responsibility as he admitted to receiving cash from a construction company. (Kyodo) ==Kyodo

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Amari to quit as economy minister over money received from company

Japan's Economic and Fiscal Policy Minister Akira Amari bows during a press conference in Tokyo on Jan. 28, 2016, after he said he will step down from the post. Amari, who has been in charge of the Trans-Pacific Partnership trade talks, said he will take responsibility for receiving a total of 1 million yen ($8,400) in cash from a construction company in two installments. (Kyodo) ==Kyodo

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Amari to quit as economy minister over money received from company

Japan's Prime Minister Shinzo Abe speaks to reporters at the prime minister's office in Tokyo on Jan. 28, 2016, after Economic and Fiscal Policy Minister Akira Amari spoke of his intention to step down from the post at a news conference. Amari, who has been in charge of the Trans-Pacific Partnership trade talks, said he will resign to take responsibility as he admitted to receiving a total of 1 million yen ($8,400) in cash from a construction company in two installments. (Kyodo) ==Kyodo

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Amari to quit as economy minister over money received from company

Japan's Economic and Fiscal Policy Minister Akira Amari, in charge of the Trans-Pacific Partnership trade talks, leaves a press conference in Tokyo on Jan. 28, 2016, after he said he will step down from the post to take responsibility for receiving a total of 1 million yen ($8,400) in cash from a construction company in two installments. (Kyodo) ==Kyodo

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Amari to quit as economy minister over money received from company

Japan's Economic and Fiscal Policy Minister Akira Amari (C), arrives at the prime minister's office in Tokyo on Jan. 28, 2016, to talk with Prime Minister Shinzo Abe. At a press conference earlier in the day, Amari, in charge of the Trans-Pacific Partnership trade talks, said he will step down from the post to take responsibility for receiving a total of 1 million yen ($8,400) in cash from a construction company in two installments. (Kyodo) ==Kyodo

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Amari to quit as economy minister over money received from company

Japan's Economic and Fiscal Policy Minister Akira Amari wipes his mouth with a handkerchief during a news conference in Tokyo on Jan. 28, 2016, as he speaks about a reported money scandal. Amari, in charge of the Trans-Pacific Partnership trade talks, said he will step down from his post to take responsibility as he admitted to receiving a total of 1 million yen ($8,400) in cash from a construction company in two installments. (Kyodo) ==Kyodo