WASHINGTON Â — The White House threatened on Tuesday to veto emergency legislation pending in the House to avert a threatened national default, a pre-emptive strike issued as Republican Speaker John Boehner labored to line up enough votes to pass the measure. Boehner faced criticism from some conservatives in advance of an expected vote on Wednesday. […]
WASHINGTON — Assistant Senate Majority Leader Dick Durbin says breaking the debt stalemate is still possible if House Republicans drop “my way or the highway” thinking. The Illinois Democrat tells NBC’s “Today” show that attitude “just doesn’t work when you’ve got the economy at stake.” Durbin says he understands public frustration with Congress, conceding people […]
Debt is a word I’m sure most Americans are well aware of. Whether it’s personal debt or the country’s national debt, it’s something that can’t be avoided. America’s debt is rising so fast that we are currently looking at our debt ceiling cracking. While there is no actual ceiling, these cracks are very real and a […]
In early 2001, America’s economic future was rosy: Our government was sitting on a massive budget surplus, and the Congressional Budget Office predicted that the next 10 years would carry our nation down the path of seemingly endless prosperity. This was a good time for President George W. Bush to push through a set of […]
WASHINGTON — Bickering in public yet bargaining in private, congressional leaders are struggling for a compromise debt limit deal that avoids a market-rattling default in little over a week while cutting trillions in spending. As leaders in both houses of Congress readied competing plans to head off the crisis, world markets fell Monday and Wall […]
WASHINGTON — Speaker John Boehner declared Friday that the House has “done its job” toward resolving the impasse over raising the government’s debt limit and said it was time for the Senate to act. “There is no deal. There is no agreement in private” with Democrats, Boehner told reporters at the Capitol as the Senate […]
Roland Martin and David Frum join Wolf Blitzer in The Situation Room to discuss the battle over raising the debt ceiling.
WASHINGTON — Declaring “11th hour” urgency” to raise the government’s borrowing limit, President Barack Obama on Tuesday hailed a plan by “Gang of Six” senators from both parties to reduce federal deficits as the kind of balanced approach that could break an economy-threatening deadlock. He said it was time for Congress as a whole to […]
Watching Republicans and Democrats squabble over their ideological battle lines with regard to the debt ceiling is the same as looking at a bratty child fall out in the middle of the floor with a temper tantrum when he doesn’t get his way. On one hand, Republicans are trying desperately to hold on to their […]
WASHINGTONÂ — Racing the debt clock, Congress is working on dual tracks while President Barack Obama appeals to the public in hopes of influencing a deal that talks have failed to produce so far. “We have to ask everyone to play their part because we are all part of the same country,” Obama said Saturday, […]
WASHINGTONÂ — President Barack Obama said Friday Congress has a “unique opportunity to do something big” and stabilize the U.S. economy for decades by cutting deficits even as it raises the national debt limit ahead of a critical Aug. 2 deadline. But, he declared, “We’re running out of time.” Obama said he was ready to […]
WASHINGTON — After tension escalated in Wednesday’s debt limit negotiations, President Obama told Republican lawmakers that he will not yield on reaching a deal that includes a long-term deficit cut. Republicans said that after a heated disagreement with House Majority Leader Eric Cantor (R-Va.), the president “abruptly” walked out of the meeting. Democratic lawmakers, however, […]
