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Bachmann Skips
Iowa Stops to
Vote 'No' on
Debt Deal

Aug 1, 2011 9:07 AM CDT

Bachmann Skips Iowa Stops to Vote 'No' on Debt Deal

'Someone has to say no. I will'

(Newser) - Michele Bachmann is taking a break from the stump to vote against the debt deal. “Someone has to say ‘no.’ I will,” she said in a statement issued last night. “The 'deal' ... spends too much and doesn't cut enough,” she said. “...

Debt Ceiling
Deal: Obama
'Surrendered'

opinion

Aug 1, 2011 7:24 AM CDT

Debt Ceiling Deal: Obama 'Surrendered'

Krugman: It's a 'disaster' for the country, and shows he'll surrender again

(Newser) - President Obama caved deeply in a debt deal that made the Republicans big winners, with both Andrew Leonard and Paul Krugman arguing that he "surrendered." Their take:

“In the end, President Obama had to admit surrender,” writes Andrew Leonard in Salon , detailing “a smashing victory

...

We're Still
Marching
to Oblivion

opinion

Aug 1, 2011 3:39 AM CDT

We're Still Marching to Oblivion

Debt deal is just meaningless political theater, says Matt Miller

(Newser) - Oh, about that historic deal on the debt ceiling , the ceiling that nearly caused the US government to default on its debt and worldwide economic chaos? Well, the deal is meaningless political posturing that changes nothing, writes Matt Miller in the Washington Post . With the US government set to spend...

Stocks Up, Gold Down
as Markets React to Deal

Aug 1, 2011 2:22 AM CDT

Stocks Up, Gold Down as Markets React to Deal

Investors wait to see if US credit rating could be downgraded

(Newser) - The debt ceiling deal quickly helped calm hyperventilating markets, with S&P 500 stock futures up 1.5% on overnight trading, Asian stock markets up, and gold down, reports Reuters . But with the US dollar mostly unchanged, long-term US treasury bonds down, and the continued threat of a downgrade to...

Deal Still
Faces
Hurdles

Aug 1, 2011 1:40 AM CDT

Deal Still Faces Hurdles

Hawks, libs expected to bolt—selling fine print to the rest is crucial

(Newser) - Not so fast. Is the debt ceiling agreement settled? Or could it still go down in flames? "We all may not be able to support it, or none us may be able to support it," Nancy Pelosi ominously told reporters yesterday ahead of today's Democratic caucus on...

Obama, Congress
Reach Debt Deal

Jul 31, 2011 7:47 PM CDT

Obama, Congress Reach Debt Deal

John Boehner reportedly called Obama to say deal was a go

(Newser) - At long last: President Obama and Republican congressional leaders reached historic agreement tonight on a compromise to permit vital US borrowing by the Treasury in exchange for more than $2 trillion in long-term spending cuts. Officials said John Boehner telephoned Obama at mid-evening to say the agreement had been struck....

Reid Backs
Debt Deal,
Lawmakers
Are 'Close'

UPDATED

Jul 31, 2011 5:08 PM CDT

Reid Backs Debt Deal, Lawmakers Are 'Close'

Agreement hoped for later tonight

(Newser) - Hours after shelving his own debt ceiling plan, Harry Reid has given his blessing to a deal being furiously negotiated on Capitol Hill, reports Politico. “Senator Reid has signed off on the debt-ceiling agreement pending caucus approval," said a statement this afternoon from Reid's office. The legislation...

Senate Votes Down
Reid's Plan

debt ceiling

Jul 31, 2011 12:48 PM CDT

Senate Votes Down Reid's Plan

But real deal is still being worked on

(Newser) - As expected, the Senate voted today not to move forward with Harry Reid's debt ceiling proposal in a 50-49 vote. The Wall Street Journal notes that the vote was "anti-climactic," since the real work on hammering out a deal by the end of the day is happening...

Schumer:
Deal Isn't
Quite Done,
but 'Relief'

TALK SHOW ROUNDUP

Jul 31, 2011 11:00 AM CDT

Schumer: Deal Isn't Quite Done, but 'Relief'

Guess what's on everybody's mind this morning?

(Newser) - The end of Congress' tortured debt ceiling machinations isn't here yet, but it's in sight, says top Democratic negotiator Chuck Schumer, while adding that "It's premature to talk about any specifics." Schumer emphasized to State of the Union that the deal will be politically difficult...

McConnell:
Debt Deal
'Very Close'

'WE WILL AVOID DEFAULT'

Jul 31, 2011 8:41 AM CDT

McConnell: Debt Deal 'Very Close'

Says legislators 'had a very good day yesterday'

(Newser) - Good news, if you're the US economy: Mitch McConnell says a debt ceiling deal is "very close," reports Politico. Speaking on CNN's State of the Nation this morning, the Senate minority leader said lawmakers yesterday made "dramatic progress" on a two-step, $3 trillion agreement that...

$2.4T Debt Deal Taking Shape?

Jul 31, 2011 6:18 AM CDT

$2.4T Debt Deal Taking Shape?

Proposal would match debt ceiling relief to debt reduction

(Newser) - After weeks of posturing and pleading, with threat of a default just days away, news of a possible debt ceiling deal is dribbling out of Washington, first reported by ABC 's Jonathan Karl. The deal would raise the ceiling by $2.4 trillion in two phases, enough to last...

Sign of Hope?
Harry Reid
Postpones
Debt Vote

Jul 30, 2011 9:37 PM CDT

Sign of Hope? Harry Reid Postpones Debt Vote

It's now scheduled for Sunday afternoon as talks intensify

(Newser) - It's either a sign that a last-minute deal is truly in sight or one last tease: Harry Reid has postponed a 1am procedural vote on his plan to raise the debt ceiling until tomorrow afternoon, reports the Hill . Reid says the delay is intended to give negotiations with Republicans...

McConnell: 'Our Country
Is Not Going to Default'

UPDATED

Jul 30, 2011 3:57 PM CDT

McConnell: 'Our Country Is Not Going to Default'

But Harry Reid isn't as optimistic about a deal

(Newser) - The debt deal may rest on the shoulders of Mitch McConnell and Harry Reid , but the two can't seem to agree on how optimistic to be. At a mid-afternoon press conference, McConnell sounded like a deal was in the offing. “Our country is not going to default for...

Debt Crisis
Could Make
Lehman's Fail
Look Lame

OPINION

Jul 30, 2011 11:55 AM CDT

Debt Crisis Could Make Lehman's Fail Look Lame

Downgrade could be worse: Neel Kashkari

(Newser) - If the debt follies in Washington result in US credit being downgraded, it could end up being a worse financial hit than the epic failure of Lehman Brothers, writes Neel Kashkari. The former assistant secretary to the Treasury, who was appointed by George W Bush to oversee the $700 billion...

Default Deadline in Hands
of McConnell, Reid Now

Jul 30, 2011 9:41 AM CDT

Default Deadline in Hands of McConnell, Reid Now

Pressure on Senate leaders to find a way

(Newser) - With all eyes on the Senate this weekend, one name keeps cropping up as pivotal deal-maker: Mitch McConnell. Politico and the Wall Street Journal see the Senate minority leader as key to any potential compromise that could be struck as Harry Reid's bill winds through the Senate. As Democratic...

House Passes
Boehner Plan;
Senate Rejects It

Jul 29, 2011 7:43 PM CDT

House Passes Boehner Plan; Senate Rejects It

Harry Reid expected to push his doomed plan now

(Newser) - John Boehner finally got his debt ceiling plan through the House, and it survived all of two hours. The bill passed 218-210 today after the House speaker reworked it to appease Tea Party conservatives. As expected, the Senate promptly tabled it, meaning it is effectively dead. Just after the Senate...

Obama's Approval
Rating Hits New Low

Jul 29, 2011 4:44 PM CDT

Obama's Approval Rating Hits New Low

Gallup registers him at 40%

(Newser) - President Obama's approval rating has hit an all-time low of 40%, according to Gallup 's daily tracking. The rating has previously dipped to 41%—most recently in April—but it had risen to an average of 46% during the past two months. At one point in June, it...

Peggy Noonan:
Obama 'Is
a Loser'

OPINION

Jul 29, 2011 11:28 AM CDT

Peggy Noonan: Obama 'Is a Loser'

And nobody loves him

(Newser) - As this debt crisis unfurls, Peggy Noonan has realized something surprising: “Nobody loves Obama,” she writes in the Wall Street Journal . “This is amazing because every president has people who love him,” even Bill Clinton and George W. Bush on their worst days. But not Barack...

Obama: Solution to Avoid Default Must Be Bipartisan

Jul 29, 2011 9:50 AM CDT

Obama: Solution to Avoid Default Must Be Bipartisan

In latest speech, president promises to work all weekend long

(Newser) - In his latest debt limit speech, President Obama today urged Democrats and Republicans to come up with "a plan that I can sign by Tuesday"—a plan that has support in both parties. "There are plenty of ways out of this mess," he said, but any...

Why the GOP Is Winning:
It Has a ('Very Bad') Big Idea

EUGENE ROBINSON

Jul 29, 2011 8:33 AM CDT

Why the GOP Is Winning: It Has a ('Very Bad') Big Idea

Democrats need a big idea to win the debt fight: Eugene Robinson

(Newser) - The Democrats are getting their butts kicked in the debt debate because conservatives have a big, easily communicated idea and Dems don't, writes Eugene Robinson for the Washington Post . The GOP's idea—which is, in Robinson's opinion, a terrible one—is that "taxes are always too...