East Asia is home to several territorial disputes, which occasionally escalate into regional violence. Many of the island territories are small, isolated from the countries’ mainlands, and sparsely populated. But strategic interests and abundant natural resources make them valuable. Here are five of East Asia’s flashpoints:
The debt-ceiling deal passed by the Senate and signed by President Obama Tuesday requires another $1.2 trillion in cuts by December. Compromise might not be any easier then.
A proposed amendment to the Constitution requiring a balanced federal budget has been the subject of congressional hearings for 60 years. But the issue is even older than that.
How many ways are there to resolve the debt ceiling crisis? Negotiators meeting at the White House seem to hit one impasse after another, and frustration on both sides is mounting as an Aug. 2 deadline looms to avoid default on America’s debt obligations. Still, at least five options for handling the matter have been discussed in recent days and months. Other possible solutions may well emerge, but here’s the state of play on the options to date.
In a break with prevailing patterns on Capitol Hill, the response to President Obama’s announcement about a troop drawdown in Afghanistan is not playing out strictly along party lines.
Sen. Tom Coburn's bid to end tax subsidies for ethanol failed. But the measure got 34 GOP votes, suggesting that many Republicans are open to eliminating tax breaks to trim the deficit.
Senate Democrats on Tuesday began enumerating ways to cut the US budget deficit. Tax breaks for oil and gas companies topped their list, as they challenged Republicans to whittle 'subsidies.'
Speaker John Boehner would exact a stiff price for once again raising the debt ceiling: trillions in spending cuts. Guess how many times Congress has raised debt limit since 1962?