budget deficit

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Congress Has Blown By 6 Debt Limit Deadlines So Far

But today's the absolute last one—right?

(Newser) - Today is, supposedly, the absolute last day for debt limit legislation to be introduced in the House if the US wants to avoid defaulting on Aug. 2. As we wait to see if lawmakers make the deadline, Uri Friedman, writing in in the Atlantic Wire, looks at all the deadlines...

Debt Ceiling Showdown: Default Looms as John Boehner, Harry Reid Prepare Dueling Proposals
 All Hope Lost for Debt Deal? 
Jul 25, 2011 7:59 AM CDT

All Hope Lost for Debt Deal?

Boehner believes proposal must hit House today

(Newser) - We may very well be at zero hour: John Boehner has privately told Republicans that in order to get a debt ceiling measure signed by President Obama by the Aug. 2 deadline, it must be introduced in the House today. But despite the increasing likeliness of a US default, Politico...

John Boehner: New Debt Ceiling Proposal Tomorrow, Not Today
 
 Boehner: Details 
 of New Proposal 
 Tomorrow 
DEBT CEILING SHOWDOWN
Jul 24, 2011 4:42 PM CDT

Boehner: Details of New Proposal Tomorrow

Conference call yields few clues to new proposal

(Newser) - If you were waiting with bated breath for John Boehner to announce a new deal framework today in an effort to avert panic in the Asian markets and stop the US from defaulting ... tough luck. Boehner spoke with House Republicans on a conference call this afternoon, and word is the...

Obama- Boehner: Breakup of the Summer

President lets loose with 'primal scream' as the bromance ends

(Newser) - "No drama Obama" was nowhere in sight last night as debt ceiling talks broke down and John Boehner left the building. The president's heated half-hour presser—in which he lambasted Republicans' "seeming inability to arrive at any kind of position that compromises any of their ideological preferences"...

Boehner to House: Pass Deal by Wednesday

Even though 'there is no deal' yet

(Newser) - The House must move to raise the debt ceiling by Wednesday, John Boehner told a closed House GOP meeting. First, of course, a deal must be struck, and as yet, “there is no deal. There is no agreement in private,” Boehner told the press, and leaders aren’t...

Obama, Boehner Near 'Grand Bargain'—Maybe

Reports cite $3T deal with tax reform, entitlement changes

(Newser) - President Obama and John Boehner are reportedly back at the bargaining table, and they could be near a deal to cut the deficit and raise the debt ceiling. The rumored $3 trillion agreement between the administration and top Republicans could include entitlement changes and set plans for tax reform, reports...

Obama Praises Bipartisan 'Gang of Six' Debt Plan

President calls for end to 'posturing'

(Newser) - With time running short on the debt limit, President Obama today hailed a plan by a bipartisan senators' group on deficit reduction as the kind of "balanced approach" the nation is looking for. He said it's time for Congress as a whole to rally around such a proposal....

Gary Younge: Debt Ceiling Battle Reveals GOP 'Madness'
 Budget Battle Shows 
 GOP's 'Madness' 
OPINION
Jul 18, 2011 6:23 PM CDT

Budget Battle Shows GOP's 'Madness'

'Dysfunctional' party is pointing the nation toward something like Armageddon

(Newser) - One thing we’ve learned from the debt ceiling debate: Republicans are no longer behaving rationally. They’ve been revealed as a “dysfunctional” party “whose conservative wing is behaving less like a mainstream electoral force than an ultra-left sect being advised by a petulant 2-year-old,” writes Gary...

Poll: 71% Disapprove of GOP's Debt Efforts
 71% Disapprove of 
 GOP's Debt Efforts 
poll numbers
Jul 18, 2011 10:50 AM CDT

71% Disapprove of GOP's Debt Efforts

Democrats' approval numbers slightly better at 31% to GOP's 21%

(Newser) - Some 71% of Americans disapprove of Congressional Republicans’ handling of the debt crisis, while just 21% support the GOP’s efforts, a CBS News poll finds. Congressional Democrats fare better, but only slightly so: 58% disapprove of their work on the issue; 31% approve. President Obama gets the best poll...

EJ Dionne: President Obama Has the 'High Ground' in Deficit Debate; Faces Challenge from Eric Cantor
 Obama Has 
 'High Ground' 
 in Deficit Fight 
ej dionne
Jul 14, 2011 10:12 AM CDT

Obama Has 'High Ground' in Deficit Fight

But he'd better watch out for Eric Cantor

(Newser) - President Obama has “called Republicans’ bluff on the debt,” writes EJ Dionne in the Washington Post . With a little help from Eric Cantor, Obama has shown that Republicans’ top goal has nothing to do with the deficit—instead, they want to maintain low taxes on corporations and the...

Obama on Debt Talks: 'I Will Not Yield'

...even though 'this may bring my presidency down'

(Newser) - We already knew last night's debt talks did not go well —but not only did President Obama leave "abruptly," he really put his foot down, Talking Points Memo reports: "I have reached the point where I say enough," he said, according to those present....

Obama: No 'Guarantee' of Social Security Checks

Without deficit deal, there may not be enough cash 'in the coffers'

(Newser) - If Democrats and Republicans can’t strike a deficit deal, retirees may not get their Social Security checks early next month, says President Obama. “I cannot guarantee that those checks go out on August 3rd if we haven't resolved this issue. Because there may simply not be the...

Boehner: There's a 'Gulf' Between Us

House won't raise taxes, he insists

(Newser) - John Boehner stuck to his guns in a press conference today, offering precious little hope that a debt ceiling deal was anywhere close to getting done. He thanked Barack Obama for praising his "good-faith effort," but said it mattered little. “Our disagreements are not personal,” he...

Obama: I Won't Sign Any 'Stop-Gap' Debt Deal

President says budget talks will continue 'every day'

(Newser) - Compromise was the theme of President Obama's press conference today, during which he acknowledged that yesterday's budget talks did not result in a deal—but promised that "we're gonna meet every single day until we get this thing resolved." He insisted that he and "...

McConnell: Big Deficit Deal Is Dead

Top Republican blames White House insistence on tax hikes

(Newser) - Mitch McConnell is jumping right on John Boehner's pronouncement last night that a broad deal on the deficit is impossible, reports Politico. Appearing on Fox News Sunday this morning, the Senate's top Republican said the White House's insistence that a $4 trillion deal be accompanied by tax...

Liberals Are Steamed —and It Matters

Progressives in Congress could scotch debt deal: Nate Silver

(Newser) - We won't know for a while what, if any, deal will emerge on the debt ceiling. Or what, if anything, that might mean for Social Security and other entitlement programs. But this much is clear: Liberals are livid that President Obama even raised the possibility of touching them, reports...

Budget Meeting 'Very Constructive': Obama

Everybody meets again on Sunday

(Newser) - President Obama called the latest budget meeting “very constructive,” as both parties “came here in a spirit of compromise.” In a post-meeting press conference, Obama noted that while he and GOP leaders are “still far apart on a wide range of issues,” work would...

Cantor: GOP Willing to Talk Tax 'Loopholes'

Comments suggest hope for compromise on debt ceiling

(Newser) - With crunch time on a debt ceiling deal approaching, some hope emerged today that an agreement might be possible: Eric Cantor said Republicans would be willing to close tax loopholes that benefit the rich provided Democrats returned the favor elsewhere by, say, extending the payroll tax holiday to help businesses....

Obama Calls White House Debt Talks

Boehner says they'll be useless

(Newser) - President Obama is hauling congressional leaders into the White House tomorrow for a sit-down in a desperate attempt to break the debt-ceiling deadlock. He rejected calls for a short-term increase in the limit, saying they had “a unique opportunity to do something big.” He said the sides had...

CBO: Debt Explosion Coming
 CBO: Debt Explosion Coming 
Jun 23, 2011 6:45 AM CDT

CBO: Debt Explosion Coming

Ending Bush tax cuts could eliminate deficit, CBO says

(Newser) - Ballooning entitlements threaten to push the national debt bigger than the entire US economy by 2021, and twice that size within 25 years, according to a pessimistic Congressional Budget Office report. “The health care programs are the main drivers of that growth,” wrote the CBO. But with Democrats...

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