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Obama Supports Millionaires Tax That’s Bigger Than The Buffett Rule

[credit provider=”Flickr” url=”http://www.flickr.com/photos/nasahqphoto/4251318245/sizes/l/in/photostream/”] The White House Press Office announced that President Barack Obama will hold a press conference at 11 a.m. this morning — though no topic was announced.Obama is in the middle of a weeks-long push on his jobs bill, which is certain to take up a significant portion […]
Obama Supports Millionaires Tax That’s Bigger Than The Buffett Rule
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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
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Why The Boehner Plan Won’t Pass

[credit provider=”Flickr” url=”http://www.flickr.com/photos/medilldc/5430941803/in/photostream/”] Update: POLITICO is now reporting that the Congressional Budget Office has found that Boehner’s plan falls $150 billion short of the $1 trillion in advertised savings. This development will only make it easier for GOP lawmakers to buck their party leadership and oppose the bill.Original: A day before the […]
Why The Boehner Plan Won’t Pass
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As Final Week Of Negotiations Begin, A Debt Deal Nears

[credit provider=”Wikimedia Commons” url=”http://commons.wikimedia.org/wiki/File:Bipartisan_Congressional_leadership_meeting_February_2010.jpg”] President Barack Obama and Speaker of the House John Boehner addressed the nation Monday night on the status of the debt and deficit talks — but through the rhetoric, an outline of a deal has emerged.Their speeches didn’t change anything. While each undoubtedly helped the leaders with […]
As Final Week Of Negotiations Begin, A Debt Deal Nears
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Obama: “The Entire World Is Watching”

[credit provider=”Flickr” url=”http://www.flickr.com/photos/nasahqphoto/4251318245/sizes/l/in/photostream/”] President Barack Obama addressed the nation on the status of negotiations to raise the debt limit Monday night, saying “the entire world is watching.”Obama devoted most of his speech to calling for both parties to compromise to raise the debt ceiling through the end of 2012.
Obama: “The Entire World Is Watching”
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Obama Endorses Reid Plan, Democrats Call It “Offer Republicans Can’t Refuse,” Boehner Says “It’s Full Of Gimmicks”

[credit provider=”Flickr” url=”http://www.flickr.com/photos/davidsilver/5227589198/sizes/m/in/photostream/”] August 2nd is rapidly approaching, and Congress remains nowhere near an agreement to raise the debt limit and lower the deficit.We’ll be bringing you the latest on the negotiations here all day. (You can view our live blog from Sunday here.)
Obama Endorses Reid Plan, Democrats Call It “Offer Republicans Can’t Refuse,” Boehner Says “It’s Full Of Gimmicks”
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Two Deals, No Time

It’s crunch time. Congressional leaders have at most two days to days to reach an agreement to raise the debt limit, and lawmakers have made little progress on preventing the unthinkable.
Two Deals, No Time
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It Looks Like No Debt Deal Today

[credit provider=”AP Photo/Harry Hamburg”] CNN is reporting that a deal to raise the debt limit is unlikely to be reached today before the Asian markets open.Speaker of the House John Boehner will host a conference call with GOP lawmakers to brief them on the status of negotiations at 4:30 p.m. […]
It Looks Like No Debt Deal Today
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Geithner: Obama And Boehner Still Negotiating Grand Bargain

[credit provider=”NBC”] Treasury Secretary Tim Geithner confirmed Sunday morning to ABC News that President Barack Obama and Speaker of the House John Boehner are still negotiating a “grand bargain” after Friday’s highly public breakdown in talks.The $3 trillion deficit reduction deal — including $800 billion in new revenues — remains […]
Geithner: Obama And Boehner Still Negotiating Grand Bargain
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Democrats Reject Republican Debt Deal As Talks Fracture

[credit provider=”AP Photo/Harry Hamburg”] Congressional efforts to remove President Barack Obama from negotiations to raise the debt limit and lower the debt ceiling failed Saturday, after Democratic lawmakers rejected a GOP offer to raise the debt ceiling in two stages.In a tersely worded statement, Senate Majority Leader Harry Reid (D-NV) […]
Democrats Reject Republican Debt Deal As Talks Fracture
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“Last Ditch” Debt Ceiling Plan Stalled

[credit provider=”centre for American Progress via Flikr”] Senate Majority Leader Harry Reid (D-NV) said the Senate will not act on the “last-ditch” debt ceiling plan he and Minority Leader Mitch McConnell (R-KY) have been considering.Speaking on the Senate floor after voting to table the House Republican debt ceiling plan, Reid […]
“Last Ditch” Debt Ceiling Plan Stalled
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Anti-Tax Kingmaker Grover Norquist Flip-Flops On Bush Tax Cuts*

[credit provider=”Gage Skidmore via Wikimedia Commons” url=”http://commons.wikimedia.org/wiki/File:Grover_Norquist_by_Gage_Skidmore.jpg”] UPDATE: Americans for Tax Reform has released a statement to “clarify” Norquist’s remarks:”ATR opposes all tax increases on the American people.  Any failure to extend or make permanent the tax cuts of 2001 and 2003, in whole or in part, would clearly increase […]
Anti-Tax Kingmaker Grover Norquist Flip-Flops On Bush Tax Cuts*
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Obama Would Accept Short-Term Debt Limit Deal To Allow Congress Time To Pass A “Grand Bargain”

[credit provider=”The White House/Pete Souz” url=”http://www.whitehouse.gov/photos-and-video/photogallery/april-2011-photo-day”] White House Press Secretary Jay Carney said President Barack Obama would accept a short-term extension of the debt limit ceiling, if it allowed Congress time to act on a larger deal.Obama had opposed any short-term debt ceiling deal, though the change in tune reflects […]
Obama Would Accept Short-Term Debt Limit Deal To Allow Congress Time To Pass A “Grand Bargain”
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Counterrevolution: GOP Elite Revolts Against Tea Party

[credit provider=”AP Photo/Charles Dharapak”] Mainstream Republicans are increasingly nervous about their party’s hard-line stance in the debt limit debate. They think it is likely to backfire, and are blaming the tea party.Wealthy GOP donors have been in contact with House Majority Leader Eric Cantor (R-VA) encouraging him to accept tax […]
Counterrevolution: GOP Elite Revolts Against Tea Party
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“Gang Of Six” Deficit Reduction Proposal Short On Specifics

The Gang of Six deficit reduction plan introduced today promises $3.7 trillion in cuts over 10 years. Only $500 billion of those cuts, however, would be made immediately as part of a bill to raise the debt limit.The rest are guidelines for congressional committees to take up later this year, […]
“Gang Of Six” Deficit Reduction Proposal Short On Specifics
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Two New Plans For Deficit Reduction

As the House of Representatives prepares to make a political statement by voting on a balanced budget amendment to the U.S. Constitution Tuesday, the Senate has produced two new deficit reduction plans.
Two New Plans For Deficit Reduction
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Here’s How The Debt Ceiling Deal Goes Down

[credit provider=”republicanconference via Flickr” url=”http://www.flickr.com/photos/republicanconference/”] Republican lawmakers will make a political statement this week, before considering legislation to raise the debt limit that stands a chance of passing.As both parties seek to ensure the government can pay its obligations on August 3, the GOP-controlled House of Representatives vote will on a […]
Here’s How The Debt Ceiling Deal Goes Down
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Obama’s Grand Debt Ceiling Gamble

[credit provider=”WSB-TV”] President Barack Obama took a page out of the GOP playbook Friday, using his press conference to push for steep deficit reduction measures to be included in a deal to raise the debt limit.Calling for spending cuts to everything from defence to Medicare, Obama also demanded new revenues […]
Obama’s Grand Debt Ceiling Gamble
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Geithner: “We’re Running Out Of Time”

[credit provider=”Asked if he thought a deal could be reached with Cantor at the table, Reid said he didn’t think so unless Cantor changes his tone and starts to contribute to the talks.”] Treasury Secretary Tim Geithner said Thursday “we’re running out of time,” to act on raising the debt […]
Geithner: “We’re Running Out Of Time”
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Boehner Has “No Idea” If Last Ditch Debt Limit Plan Can Pass House

[credit provider=”Flickr” url=”http://www.flickr.com/photos/gopleader/4156380948/sizes/m/in/photostream/”] Speaker of the House John Boehner (R-OH) said he has “no idea” if the contingency debt limit plan introduced by Sen. Mitch McConnell (R-KY) could pass the House.In a press conference Thursday he said the last ditch effort is “worth keeping on the table,” adding, “it might look […]
Boehner Has “No Idea” If Last Ditch Debt Limit Plan Can Pass House
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Obama Just Played The Social Security Card

[credit provider=”CBS News”] President Barack Obama told CBS News’s Scott Pelley that Social Security benefit checks are in jeopardy if Congress doesn’t raise the debt limit by August 2.”I cannot guarantee that those checks go out on August 3rd if we haven’t resolved this issue, because there may simply not […]
Obama Just Played The Social Security Card
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Boehner Says The Debt Limit Increase Is Obama’s Problem

[credit provider=”AP”] Speaker of the House John Boehner introduced a new argument to the debt ceiling and deficit reduction talks Tuesday, saying raising the borrowing limit is Republicans’ concession in the negotiations.”This debt limit increase is [Obama’s] problem,” he said.
Boehner Says The Debt Limit Increase Is Obama’s Problem
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Debt Meeting Ends

Talks between President Obama and Congressional leaders wrapped up Monday afternoon without an agreement.
Debt Meeting Ends
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Debt Limit Talks Go Polar

[credit provider=”republicanconference via Flikr”] Deficit reduction talks suffered a setback Monday. Republicans rejected President Barack Obama’s demand for new revenues in an agreement to raise the debt ceiling.In a press conference, Speaker of the House John Boehner criticised Obama for trying to raise taxes during a recession, saying “the president and […]
Debt Limit Talks Go Polar
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Lawmakers Meet (Briefly) On Debt Ceiling, Still No Deal

[credit provider=”Flickr” url=”http://www.flickr.com/photos/davidsilver/5227589198/sizes/m/in/photostream/”] Update 2: House Minority Leader Nancy Pelosi’s statement on the meeting:”We are still hopeful for a large bipartisan agreement, which means more stability for our economy, more growth and jobs, and more deficit reduction over a longer period of time.”
Lawmakers Meet (Briefly) On Debt Ceiling, Still No Deal
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How Obama Killed The Debt Ceiling “Grand Bargain”

[credit provider=”AP”] Speaker of the House John Boehner ruled out a “grand bargain” on the deficit and the debt ceiling Saturday night, ending hopes for a historic $4 trillion deal.”Despite good-faith efforts to find common ground, the White House will not pursue a bigger debt reduction agreement without tax hikes,” […]
How Obama Killed The Debt Ceiling “Grand Bargain”
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Just What We Need, Now The Debt Ceiling Deal Is Blowing Up

[credit provider=”Flickr” url=”http://www.flickr.com/photos/medilldc/5430941803/in/photostream/”] A day after President Barack Obama met with congressional leaders to negotiate a debt ceiling increase and deficit reduction package, the deal is falling apart.”We are this far apart,” Speaker of the House John Boehner said Thursday morning, holding his arms out. “It is not like there […]
Just What We Need, Now The Debt Ceiling Deal Is Blowing Up
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Pelosi: “We are not Greece”

House Minority Leader Nancy Pelosi (D-CA) says she is confident a debt ceiling deal will be reached before the federal government defaults on its obligations on August 2.
Pelosi: “We are not Greece”
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Obama, Congress Looking For “Bigness” In Debt Ceiling Deal

[credit provider=”Flickr” url=”http://www.flickr.com/photos/davidsilver/5227589198/sizes/m/in/photostream/”] President Barack Obama and Congressional leaders today agreed to pursue a “big” deficit reduction target — as much as $4 trillion saved from cuts and new revenue.Reuters is reporting that all the participants at today’s negotiating session agreed that a short-term debt ceiling increase should not be […]
Obama, Congress Looking For “Bigness” In Debt Ceiling Deal
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DEBT CEILING BREAKTHROUGH: GOP Agrees To New Revenues

[credit provider=”AP Photo/Charles Dharapak”] Republicans have agreed to between $150 billion and $200 billion in revenue increases as part of a deficit reduction package, Senate Minority Whip Jon Kyl (R-AZ) said Wednesday night. The announcement is the latest bit of good news for the once-stagnant talks to raise the debt ceiling and lower the […]
DEBT CEILING BREAKTHROUGH: GOP Agrees To New Revenues
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Obama Seeking Social Security Cuts In Deficit Reduction Deal

[credit provider=”Flickr” url=”http://www.flickr.com/photos/scriptingnews/3268284226/sizes/m/in/photostream/”] President Barack Obama is raising the stakes in the ongoing talks to raise the debt ceiling and lower the deficit — proposing $4 trillion in cuts over the next decade, including reductions to Social Security, The Washington Post is reporting.Obama has already indicated he would support cuts […]
Obama Seeking Social Security Cuts In Deficit Reduction Deal
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Obama May Endorse Steep Medicare And Medicaid Cuts To Raise Debt Ceiling

[credit provider=”The White House”] President Barack Obama is considering hundreds of billions of dollars in cuts to Medicare and Medicaid as part of a deal to raise the debt limit and close the deficit.According to The New York Times, the White House would be willing to make $340 billion in […]
Obama May Endorse Steep Medicare And Medicaid Cuts To Raise Debt Ceiling
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Republicans Attack Obama’s Leadership On Debt Ceiling

[credit provider=”YouTube” url=”http://www.youtube.com/watch?v=kiO2iwAgbFs&feature=youtu.be”] The National Republican Senatorial Committee released a video Thursday critical of President Barack Obama’s leadership on debt ceiling negotiations.After Obama called for Republicans to “act like leaders” and reach a deal on raising the debt limit in a press conference on Wednesday, the committee fired back with […]
Republicans Attack Obama’s Leadership On Debt Ceiling
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Politics In 60 Seconds: What You Need To Know Right Now

Good morning. Here’s what you need to know:1. Standard & Poor’s managing director John Chambers told Reuters yesterday that the United States would immediately have its top-notch credit rating slashed to “selective default” if it misses a debt payment on August 4th. “If the U.S. government misses a payment, it […]
Politics In 60 Seconds:  What You Need To Know Right Now
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Boehner’s Position Unchanged On Taxes After Obama Press Conference

[credit provider=”Flickr” url=”http://www.flickr.com/photos/medilldc/5430941803/in/photostream/”] Speaker of the House John Boehner fired back at the White House this afternoon, after President Barack Obama criticised Congress in a press conference for stalling a deal to raise the debt ceiling.”His administration has been burying our kids and grandkids in new debt and offered no […]
Boehner’s Position Unchanged On Taxes After Obama Press Conference
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