US president Barack Obama urged Congress to begin immediate talks with senior administration officials over a deal to fund the US government for the next seven months, after lawmakers voted to postpone a potential federal shutdown, but only until March 18th.

But finding a path to a political consensus on a budget for the rest of this year, let alone a plan to redress America’s strained public finances over the next several decades, will be very difficult. Republicans are pushing for $61 billion (€44 billion) in cuts. – (The Financial Times Ltd)