President Obama and congressional Republicans are close to nailing down a debt ceiling deal just two days before a possible government default, negotiators said today.
White House adviser David Plouffe told NBC’s Meet The Press that “we don’t have deal,” but there has been progress and “today is a critical day.”
Over on CNN’s State of the Union, Senate Minority Leader Mitch McConnell, R-Ky, [...]
Congressional leaders struggle to work out bipartisan debt deal
By Lori Montgomery, Paul Kane and Felicia Sonmez, Updated: Saturday, July 30, 12:19 PM
With just three days to go before Congress’s deadline to raise the debt ceiling and avoid sending the country into default, leaders continued to struggle Saturday to work out a bipartisan deal that can pass both chambers and be signed into law by President Obama.
The House voted around 3 p.m. to reject a [...]
By MANU RAJU
First came the Biden talks. When those blew up, the Obama-Boehner talks took center stage. And when that failed, the McConnell-Reid talks looked promising. And after they faltered, the Obama-Boehner talks tried to find a new life.
Now it’s all come down to the Boehner-Reid-Pelosi-McConnell talks to solve the debt crisis. Notably absent? The president.
That’s not to say Saturday’s congressional takeover went well.
In a [...]
ABC News‘ Jonathan Karl (@jonkarl) reports:
Talks between House Speaker John Boehner and President Obama to raise the debt ceiling in conjunction with sweeping spending cuts and tax and entitlement reform have broken down. There will be no “grand bargain” to deal with the debt crisis and raise the debt ceiling.
Boehner’s decision to abandon negotiations with President Obama puts an end to a deal that would [...]
Debt talks bring tensions between Democrats, Obama to surface
Among Senate Democrats, there is still bitterness about the deal Vice President Biden negotiated in secret in December with Senate Minority Leader Mitch McConnell (R-Ky.) that extended all of the George W. Bush-era tax cuts, including those for the wealthy.
The T-word — “triangulation” — began to circulate across Capitol Hill as lawmakers recalled how President Bill Clinton distanced [...]
“I was truly hopeful that the President could be persuaded to view the upcoming debt limit vote as an opportunity to cut Washington spending and the debt that has ballooned since he took office, and to preserve entitlements at the same time. But in the end, he just wasn’t interested in doing something of that magnitude that would pass. He really gave us three bad [...]
By COREY BOLES, WSJ
WASHINGTON—A “real solution” to U.S. fiscal problems isn’t possible as long as President Barack Obama remains in office, Senate Minority Leader Mitch McConnell said Tuesday, heightening the rhetoric surrounding the debt-ceiling debate.
Mr. McConnell, the Senate’s top Republican, said he had gone into negotiations in good faith over how to formulate a deficit-reduction package to accompany an increase in the statutory borrowing limit.
Senate Minority Leader Mitch McConnell (right), Kentucky Republican, speaks to reporters on Capitol Hill in Washington on Wednesday, June 29, 2011, about balancing the budget as Sen. Orrin G. Hatch, Utah Republican, looks on. (AP Photo/Manuel Balce
A day after President Obama persuaded senators to cancel their Independence Day vacation to make headway on debt negotiations, the chamber’s Republican leader said there’s no better time to get started [...]
Charles Schumer, the Senate’s No. 3 Democratic leader, accused Republicans of seeking to slow the U.S. economy for political gain in the debate over cutting budget deficits. He insisted Democrats have the “upper hand” in the negotiations.
Raising the rhetorical stakes while party leaders are far apart over a plan to cut the deficit and increase the U.S. debt limit, Schumer said Republican leaders are seeking deep spending cuts as part [...]
With time running short to reach a deal to avoid a government default, President Barack Obama met privately Monday with Senate leaders in hopes of resolving an impasse over whether to include tax increases in a deficit-reduction agreement.
The White House argued that the deficit can’t be significantly cut without eliminating tax breaks for certain wealthy individuals and companies, while Republicans said doing so would [...]
Senate Minority Leader Mitch McConnell (R-KY) will meet with President Obama today to try to restart talks on raising the debt ceiling.
Unwilling to negotiate with Democrats on tax increases, Republicans are willing to agree to cuts in defense spending to reach a compromise on raising the debt ceiling.After congressional Republicans pulled out of the Vice President Joe Biden-led talks over Democrats’ insistence that tax hikes be [...]
Washington (CNN) — President Barack Obama will meet with Senate Democratic and Republican leaders on Monday to keep the negotiations going on a possible deficit reduction deal.
The session comes after talks led by Vice President Joe Biden concluded last week without an agreement and as congressional leaders hardened their positions, making a possible compromise more difficult.
With an August 2 deadline looming to increase the [...]
Barack Obama’s proposal to end a business tax break worth $72 billion is among the tensions the president may confront as he meets today with Senate Minority Leader Mitch McConnell in an effort to revive bipartisan talks over reducing the debt, three persons familiar with the issue say.
Ending the so-called last-in-first-out, or LIFO, provision, a method of accounting for inventory costs, was among options offered by White House officials for [...]
The No. 3 Republican leader in the House took President Obama to task Friday, claiming he should put the golf clubs down and get directly involved in the budget talks with Congress.
“He’s got to get off the golf course and he’s got to get engaged,” Rep. Kevin McCarthy (R-Calif.) said.
“He has a responsibility as a leader,” McCarthy said.Although he referred to the president’s golf game, McCarthy did [...]
“It’s worth asking: Where in the world has President Obama been for the last month? Where is he? What does he propose? What is he willing to do to reduce the debt? And to avoid this crisis, that’s building on his watch?” Senate Minority Leader Mitch McConnell (R-KY) said today.
“He’s the one in charge. I think most Americans think it’s about time he started acting [...]
Republicans launched a concerted campaign Thursday to draw President Barack Obama more directly into deficit-reduction talks with House Majority Leader Eric Cantor saying that he will no longer participate in White House talks until the president has personally resolved the divisive issue of taxes.
Cantor’s decision came as Senate Minority Leader Mitch McConnell (R-Ky.) delivered a broadside on the floor, also keyed to the tax issue and entitled “Where’s the [...]
Republicans seem to have settled informally on a message for 2012: Obama made it worse.
Presidential hopeful Mitt Romney used that line of attack in a well-received dig during last week’s GOP debate in New Hampshire. And on Wednesday, Senate Minority Leader Mitch McConnell said he sees that being the overriding message headed into next year.
“If the presidential [...]
WASHINGTON — Senate Minority Leader Mitch McConnell (R-Ky.) said on Sunday that the Medicare reform plan authored by House Budget Committee Chairman Paul Ryan would be “on the table” with respect to negotiations over raising the debt ceiling.
“We are going to discuss what ought to be done,” McConnell said during an appearance on Meet The Press. “I can assure you that to get my vote [...]
No senators voted for President Obama’s 2012 budget when it came up for a vote in the Senate Wednesday.
A procedural vote to move forward on the president’s plan failed 0-97.
Just minutes earlier, the Senate failed to advance Rep. Paul Ryan’s (R-Wis.) budget plan by a vote of 40-57 as five Republicans voted against their party.
Democrats sought to put Republicans on the defensive over the Ryan budget, which they have [...]
The Senate on Wednesday rejected Republican-backed legislation intended to speed up and expand offshore oil and gas drilling.
In a 42-57 vote, the Senate failed to move forward with the bill, which was opposed by the White House and most Senate Democrats. Republicans needed 60 votes for the measure to proceed.
Every Senate Democrat voted against the motion to proceed along with five Republicans: Sens. Jim DeMint [...]
(Foxnews)In the face of Republican calls for Democrats to offer a plan of their own for funding the federal government, Senate Majority Leader Harry Reid unveiled a $1.1 trillion bill which imposes $6.5 billion in new spending cuts — and then promptly declared both it and the rival House GOP proposal dead on arrival.
“Not to spoil the surprise, but we all know how it will turn out. [...]
LOUISVILLE, Ky. â€“ Senate Minority Leader Mitch McConnell declared Saturday that President Barack Obama’s legislative agenda is “over,” but said GOP lawmakers are willing to work with the White House to do what they “think is right for America.”
In a speech Saturday night to a GOP crowd in his hometown, the Kentucky Republican derided Obama for performing “Clintonian back flips” to portray himself as a moderate, but [...]