debt ceiling

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House to Vote on Debt Ceiling, Without a Deal

They'll vote on a taxcut-free version

(Newser) - Bipartisan debt ceiling talks are still deadlocked , but the House plans a vote next week anyway, John Boehner announced today. The House will vote on a bill that would raise the debt ceiling $2.4 trillion, while cutting spending by even more than that, CBS reports. It would also cap...

Obama: Republican Voters Agree With Me

President cites Gallup poll showing vast majority want revenue in deal

(Newser) - President Obama got combative in his press conference today, saying Republicans’ refusal to raise revenues in a debt ceiling deal is out of touch. “My hope, though, is that they're listening not just to lobbyists or special interests here in Washington, but they're also listening to the...

Stewart: Mitch McConnell 'Ruins Magic'

Daily Show host weighs in on debt ceiling talks

(Newser) - Jon Stewart offered a fairly hilarious rundown of the debt ceiling negotiations on the Daily Show last night, starting with the stakes: “If we don’t raise the debt ceiling by Aug. 2, man will be sentenced to an eternity of licking our own pets' genitals,” he declared....

'Decision Time': McConnell, Reid Work on Plan B

Standard & Poor's threatens to downgrade US credit, too

(Newser) - With negotiations looking more hopeless than ever, a modified version of Mitch McConnell's backup plan is starting to get some serious traction, reports the Wall Street Journal . Conservatives originally swatted down McConnell's idea—basically giving President Obama the ability to raise the debt ceiling by $2.4 trillion...

Cantor, Boehner: We're Still Best Buds

GOP leaders say they're 'on the same page' over debt ceiling

(Newser) - John Boehner and Eric Cantor put on what the Hill describes as a "buddy-buddy routine" for reporters today to try to dispel notions of animosity between them in the debt ceiling talks. Cantor: “The speaker and I have consistently been on the same page." Boehner, after putting...

McCain: Bachmann Reminds Me of ... Obama

Her refusal to lift the debt ceiling is misguided, he says

(Newser) - This probably hurts more than any Jon Stewart video : John McCain compares Michele Bachmann to President Obama of all people in an interview with the National Review . “There are Republicans who are committed, like Michele Bachmann, to vote against raising the debt limit under any circumstances,” he says....

Michele Bachmann&#39;s Default Plan: Duck and Cover
Michele Bachmann's Default Plan: Duck and Cover
Dana Milbank
Jul 14, 2011 1:45 PM CDT

Michele Bachmann's Default Plan: Duck and Cover

GOP candidate seems to be rooting for a collapse, Dana Milbank says

(Newser) - Michele Bachmann doesn’t think we should raise the debt ceiling. After all, she argues, even if we hit it, we can still pay Social Security, Medicare, and Medicaid. That plan “is the economic equivalent of the old Cold War strategy in the event of a nuclear attack,”...

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....

Wrenching Decisions Loom If Debt Ceiling Isn't Raised

Who doesn't get paid: Soldiers, seniors, jobless, or bondholders?

(Newser) - If Washington doesn’t manage to raise the debt ceiling by Aug. 2, Tim Geithner’s going to have some angry people on his hands. That’s the date the Bipartisan Policy Center predicts the government will run out of money, leaving the US to pay its bills with incoming...

GOP Hopefuls Shun Mitch McConnell's Plan

Candidates refuse to endorse budget compromise

(Newser) - Mitch McConnell's budget compromise plan has been met with either rejection or silence from the GOP's White House contenders. Newt Gingrich, Michele Bachmann, and Ron Paul have come out against the plan, and not a single candidate has endorsed it, reports AP . Bachmann and Paul have pledged to...

Cantor: Angry Obama Left Meeting

But a Democrat says the session was already over

(Newser) - Shhh, nobody tell Moody's . Today's debt ceiling talks at the White House may have been the testiest yet. As Eric Cantor tells it, the president "lost his temper" and "abruptly" ended the meeting by walking out of the room, reports Politico . But a Democrat offered a...

Moody's Warns It May Lower US Credit Rating

Agency getting antsy about the risk of default

(Newser) - Tick tock on those debt ceiling talks: Moody's is threatening to lower the United States' credit rating, saying there is a small but rising risk that the government will default on its debt. The credit rating agency says it will review the federal government's triple-A bond rating because...

Reactions: Why the GOP Should Love Mitch McConnell's Debt Ceiling Plan
Why the GOP Should Love McConnell's Plan
reactions
Jul 13, 2011 9:39 AM CDT

Why the GOP Should Love McConnell's Plan

Many are calling it a sell-out; here's why it's not

(Newser) - Knee-jerk reactions to Mitch McConnell's surprise debt ceiling proposal weren't good: Newt Gingrich, for example, called it "an irresponsible surrender to big government." But upon further consideration, many are coming out of the woodwork to explain why this is actually a grand plan for the Grand...

McConnell Offers 'Backup Plan' to Avert Default

It would give Obama the power (and blame) to raise debt ceiling

(Newser) - Another day, another round of meetings and threats , and still no deal on the debt ceiling. But the big news looks to be a surprise "backup plan" from Mitch McConnell that would give President Obama unprecedented power to raise the debt ceiling by $2.4 trillion in three installments...

Debt Talks Bring Out Boehner/Cantor Rivalry

Boehner is more pragmatic; Cantor draws line, refuses compromise

(Newser) - The GOP’s high-wire debt ceiling talks have turned a spotlight on the growing rivalry between John Boehner and Eric Cantor, the Washington Post observes. Until Sunday’s talks, Boehner had been pushing for a grand compromise, while Cantor categorically refused anything involving tax increases. Yesterday, Cantor insisted that he...

Limbaugh: Obama Wants Deal in Time for Ramadan

Though even he can't keep a straight face about it

(Newser) - Rush Limbaugh couldn’t resist pushing the envelope a bit today with a crack implying that Barack Obama is Muslim. In a segment on the debt ceiling spotted by Mediaite , Rush said, “So Obama’s out there pushing this magic Aug. 2 deadline to get this thing done. That’...

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 "...

Last Night's Budget Talks Got Us Nowhere

New huddle, press conference planned today

(Newser) - With just three weeks to go until the US defaults on its debt, White House and congressional officials are planning to resume talks today after a disappointing session yesterday, reports the Washington Post . Last night's 75-minute talks went nowhere, with both sides digging in to their positions and adjourning...

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