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You’ll Be Shocked Just How Close The Final Debt Deal Came To Falling Apart

[credit provider=”AP Photo/Charles Dharapak”] The markets — and the American people — always assumed Congress and President Barack Obama would reach a deal. But as late as Sunday, the White House considered economic collapse an increasingly likely outcome to months of failed talks.According to POLITICO, negotiations reached a stalemate on […]
You’ll Be Shocked Just How Close The Final Debt Deal Came To Falling Apart
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HOUSE PASSES DEBT LIMIT INCREASE, SENATE TO VOTE AT NOON TUESDAY

The House of Representatives passed a bill to raise the debt limit and lower the deficit Monday night by a margin of 269-161.The bill will cut $917 billion from the federal deficit immediately through discretionary spending caps. Additionally, it authorizes the creation of a bipartisan fiscal committee which will report […]
HOUSE PASSES DEBT LIMIT INCREASE, SENATE TO VOTE AT NOON TUESDAY
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Debt Deal Reached, But Path Through Congress Not Guaranteed

We have a deal that could avoid default — now can Congress pass it?That is the question many in both parties are asking themselves today on Capitol Hill, where both house of Congress are preparing to vote on legislation no one really wants to pass.
Debt Deal Reached, But Path Through Congress Not Guaranteed
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“Historic, Bipartisan Compromise” Reached To Raise Debt Ceiling

[credit provider=”AP Photo/Charles Dharapak”] President Barack Obama and Congressional leaders announced they have reached a “historic, bipartisan compromise” to raise the debt limit and lower the deficit.The debt ceiling will be hiked in two stages the first with cuts agreed to now, and the second with cuts agreed to by […]
“Historic, Bipartisan Compromise” Reached To Raise Debt Ceiling
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Senate Vote Postponed To Allow White House Negotiations With GOP To Continue

[credit provider=”Wikimedia Commons” url=”http://commons.wikimedia.org/wiki/File:Bipartisan_Congressional_leadership_meeting_February_2010.jpg”] Another wasted day.Senate Majority Leader Harry Reid postponed a vote on his plan to raise the debt limit until Sunday after 43 GOP Senators pledged to oppose the bill.
Senate Vote Postponed To Allow White House Negotiations With GOP To Continue
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Congress Finds Debt Limit Compromise Elusive, As Deadline Looms

[credit provider=”AP Photo/Charles Dharapak”] The House and Senate will convene Saturday afternoon as they continue negotiations to raise the debt ceiling. But with just days to act before one or more of the major credit ratings agencies downgrades U.S. debt, Democrats and Republicans can’t seem to work together.The plan put forward by […]
Congress Finds Debt Limit Compromise Elusive, As Deadline Looms
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No Signs Of Compromise, As Senate Kills Boehner Bill

[credit provider=”AP”] The debt limit increase bill introduced by Speaker of the House John Boehner passed the House of Representatives, but was quickly rejected in the Senate.Reid is setting the stage for a 1 a.m. Sunday cloture vote on the bill, followed by a vote to pass it on Monday morning.
No Signs Of Compromise, As Senate Kills Boehner Bill
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Timeline: How To Track The Next 80 Hours

Senator Harry Reid announced Friday that he will file cloture on his bill to raise the debt limit, setting the stage for final votes on the bill on Monday or Tuesday, before it would return to the House for final passage.
Timeline: How To Track The Next 80 Hours
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Time Ticks Down As Boehner, House Prepare Another Vote To Nowhere

[credit provider=”Wikimedia Commons” url=”http://commons.wikimedia.org/wiki/File:Radium_Dial.jpg”] Speaker of the House John Boehner’s job is on the line as the House of Representatives prepares a vote on his plan to raise the debt limit today.”His being Speaker is clearly at stake here,” Sen. John McCain (R-AZ) said Thursday night on Fox News.
Time Ticks Down As Boehner, House Prepare Another Vote To Nowhere
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NO VOTE ON BOEHNER PLAN AS TEA PARTIERS REVOLT

[credit provider=”AP Photo/Carolyn Kaster”] The House of Representatives postponed a vote on Speaker of the House John Boehner’s plan to raise the debt limit Thursday night, due to a revolt from the tea party.Boehner pulled his plan off the House floor around 5:15 after it became clear he could not […]
NO VOTE ON BOEHNER PLAN AS TEA PARTIERS REVOLT
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This Is How The Debt Deal Might Happen

[credit provider=”centre for American Progress via Flikr”] The House of Representatives will vote today on Speaker of the House John Boehner’s plan to raise the debt limit and lower the deficit. Regardless of whether it passes, it is certain to fail in the Senate—where all 51 Democrats and two Independents have […]
This Is How The Debt Deal Might Happen
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Treasury: We Will Unveil Our Secret Plan To prioritise Payments Before August 2nd

[credit provider=”AP”] Earlier White House Press Secretary Jay Carney said the government would be releasing plans for what happens after August 2nd if the debt limit isn’t raised. Now the Treasury Department confirms.Deputy Assistant Secretary for Public Affairs Anthony Coley said the department would release its plans for what bills would […]
Treasury: We Will Unveil Our Secret Plan To prioritise Payments Before August 2nd
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DEFAULT OFF: White House Admits Treasury Will prioritise Payments

[credit provider=”gurdonark via Flickr” url=”http://www.flickr.com/photos/rasputin243/3690255919/sizes/l/in/photostream/”] According to the White House, the Treasury Department will disclose its list of spending priorities in the event the debt limit isn’t raised before August 2nd.Both the White House and Treasury have previously denied that they had the authority to prioritise payments, but apparently they […]
DEFAULT OFF: White House Admits Treasury Will prioritise Payments
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Delayed Debt Ceiling Vote Means Wasted Day, And Perhaps Much Worse

[credit provider=”AP Photo/Harry Hamburg”] Tuesday night’s announcement that the vote on Speaker of the House John Boehner’s plan to raise the debt limit would be postponed is a significant setback for the negotiations, with only days until the August 2nd deadline set by the Obama administration.Yesterday afternoon the Boehner plan […]
Delayed Debt Ceiling Vote Means Wasted Day, And Perhaps Much Worse