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 […]
The “historic, bipartisan compromise” reached to raise the debt limit does not end the struggle to reign in the federal deficit — in fact, it pushes the most difficult decisions off into the future.
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.
[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 […]
From the White House:
[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.
[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 […]
[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.
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.
[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.
[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 […]
[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 […]
[credit provider=”AP Photo/Charles Dharapak”] The Boehner plan is delayed, the Reid plan is waiting on the Boehner plan, and the White House isn’t sure it has a plan.Read Wednesday’s debt ceiling live-blog below.
[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 […]
[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 […]
The Washington Post reported last night that GOP Rep. Kevin McCarthy (R-MD) showed this clip from the movie “The Town” to rally his caucus behind Speaker of the House John Boehner’s plan to raise the debt limit.
[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 […]