federal budget talks

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Debt Ceiling: Senate Votes Down Harry Reid's Plan, But Real Deal Still Being Worked On
 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...

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...

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...

CBO: Dems' Plan Falls Short, Too

...about $500 billion shy of goal

(Newser) - Looks like the Republicans aren't the only ones whose debt ceiling plan falls a little short: The Congressional Budget Office says the Senate Democrats' plan would only cut the deficit by $2.2 trillion over the next decade, not the $2.7 trillion promised by Harry Reid, reports the...

Debt Ceiling Showdown: John Boehner, Harry Reid Scrambling for Support on Dueling Plans
 Boehner, Reid 
 Can't Find the Votes 
debt ceiling showdown
Jul 27, 2011 7:53 AM CDT

Boehner, Reid Can't Find the Votes

Neither plan is doing very well at this point

(Newser) - John Boehner and Harry Reid are frantically scrambling to cobble together support for their dueling debt plans after Boehner was forced to delay a House floor vote on his proposal until tomorrow ... or beyond. The delay was a direct result of the CBO's report that Boehner's package falls...

Let's Kill the Debt Ceiling— Permanently

Why suffer from 'problems we've created for ourselves'?

(Newser) - All this talk about raising the debt ceiling when the fact is—like almost “every other democratic country”—we shouldn’t have one at all, writes James Surowiecki in the New Yorker . “There’s no debt limit in the Constitution,” and Congress already has a way...

Debt Ceiling Showdown: New Reports Indicate US May Not Default on Aug. 2
 US Won't Default on Aug. 2 
new reports
Jul 26, 2011 7:55 AM CDT

US Won't Default on Aug. 2

New reports indicate the feds have a little wiggle room

(Newser) - The US blew past a seventh (and final? ) deadline for coming up with a debt ceiling extension plan yesterday, but new reports indicate the country may not actually default a week from today. According to economic analysts at UBS, Aug. 8 is the earliest date the government might run...

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...

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...

Still No Debt Deal—and Now Dems Miffed at Obama

Democrats worry Obama making too many concessions

(Newser) - Sam and Diane. Ross and Rachel. And now the latest "will-they-or-won't-they?" couple seems to be President Obama and House Speaker John Boehner. After speculation renewed yesterday that they were working on a deal, the New York Times maintains a deal is close, while the USA Today says both...

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 OK With Short-Term Debt Deal, So Long As...

...those days are used to hammer out longer-term deal

(Newser) - All of the debt ceiling meetings have broken up for the evening, and, surprise, surprise, no breakthrough deal has emerged. But once again, there's hope: The big development of the day looks to be the White House declaration that President Obama would agree to a short-term deal to raise...

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...

Gold Cracks $1,600 for New Record

Stalled debt ceiling negotiations contribute to soaring value

(Newser) - The price of gold has topped $1,600 per troy ounce for the first time ever as worry increases about US and European economies. In New York, futures hit $1603.80 per ounce and in Europe, spot gold reached $1603.29 per ounce, reports the Wall Street Journal . The soaring...

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...

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....

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