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Tim Geithner: President Obama Wants 'Biggest Deal Possible' on Debt Ceiling

Geithner:
Obama Wants
'Biggest Deal
Possible'

TALK SHOW ROUNDUP

Jul 10, 2011 12:21 PM CDT

Geithner: Obama Wants 'Biggest Deal Possible'

Says president 'is willing to do very, very difficult political things'

(Newser) - Treasury Secretary Tim Geithner fired back at John Boehner and Mitch McConnell this morning, telling Meet the Press that “We’re going to try to get the biggest deal possible, the deal that’s best for the economy. Not just in the short term.” Further, he said, smaller...

Mitch McConnell on Debt Ceiling: Big Deal Is Dead

McConnell:
Big Deficit
Deal Is Dead

Jul 10, 2011 9:16 AM CDT

McConnell: Big Deficit Deal Is Dead

Top Republican blames White House insistence on tax hikes

(Newser) - Mitch McConnell is jumping right on John Boehner's pronouncement last night that a broad deal on the deficit is impossible, reports Politico. Appearing on Fox News Sunday this morning, the Senate's top Republican said the White House's insistence that a $4 trillion deal be accompanied by tax...

Boehner to Seek
Smaller $2T Deal

Jul 9, 2011 7:54 PM CDT

Boehner to Seek Smaller $2T Deal

Deal reached impasse over issue of tax increases

(Newser) - John Boehner has informed Barack Obama that he wants to pursue a smaller $2 trillion deficit reduction deal, not the larger effort sought by the White House. In a statement issued after that conversation, Boehner said the issue of taxes ultimately killed efforts to reduce the deficit by as much...

Boehner: No Budget
Deal 'Imminent'

Jul 8, 2011 11:38 AM CDT

Boehner: No Budget Deal 'Imminent'

But one must be struck before Aug. 2, says speaker

(Newser) - President Obama may be upbeat in public about the latest budget talks, but John Boehner? Not so much. No budget deal is “imminent,” the House speaker said today, and the parties still face "serious disagreements." Boehner sounded a bit more optimistic only yesterday, telling House...

Liberals Are
Steamed
—and It
Matters

analysis

Jul 7, 2011 7:29 PM CDT

Liberals Are Steamed —and It Matters

Progressives in Congress could scotch debt deal: Nate Silver

(Newser) - We won't know for a while what, if any, deal will emerge on the debt ceiling. Or what, if anything, that might mean for Social Security and other entitlement programs. But this much is clear: Liberals are livid that President Obama even raised the possibility of touching them, reports...

Warren Buffett On Debt Ceiling: Risky to Not Raise Debt Ceiling

Buffett: Debt Ceiling Game
Is 'Russian Roulette'

Jul 7, 2011 2:54 PM CDT

Buffett: Debt Ceiling Game Is 'Russian Roulette'

He says not increasing limit is a dangerous idea

(Newser) - Warren Buffett warned today that Congress is playing a dangerous game with the US debt ceiling. He compared the debate over raising the debt limit to a game of "Russian roulette" with one bullet in a revolver. Refusing five times out of six to raise the debt limit might...

President Obama: Budget Meeting With John Boehner 'Very Constructive'

Budget Meeting 'Very Constructive': Obama

Jul 7, 2011 2:00 PM CDT

Budget Meeting 'Very Constructive': Obama

Everybody meets again on Sunday

(Newser) - President Obama called the latest budget meeting “very constructive,” as both parties “came here in a spirit of compromise.” In a post-meeting press conference, Obama noted that while he and GOP leaders are “still far apart on a wide range of issues,” work would...

Cantor: GOP Willing
to Talk Tax 'Loopholes'

Jul 6, 2011 6:33 PM CDT

Cantor: GOP Willing to Talk Tax 'Loopholes'

Comments suggest hope for compromise on debt ceiling

(Newser) - With crunch time on a debt ceiling deal approaching, some hope emerged today that an agreement might be possible: Eric Cantor said Republicans would be willing to close tax loopholes that benefit the rich provided Democrats returned the favor elsewhere by, say, extending the payroll tax holiday to help businesses....

Obama Calls
White House
Debt Talks

Jul 6, 2011 7:59 AM CDT

Obama Calls White House Debt Talks

Boehner says they'll be useless

(Newser) - President Obama is hauling congressional leaders into the White House tomorrow for a sit-down in a desperate attempt to break the debt-ceiling deadlock. He rejected calls for a short-term increase in the limit, saying they had “a unique opportunity to do something big.” He said the sides had...

GOP Blowing
'No-Brainer' Compromise

David Brooks

Jul 5, 2011 1:58 PM CDT

GOP Blowing 'No-Brainer' Compromise

This is looking like a party of fanatics: David Brooks

(Newser) - Congressional Republicans have proven to be tough negotiators since entering office, and they’ve got Democrats poised to accept trillions in budget cuts in exchange for a few hundred million in closed tax loopholes, writes David Brooks in the New York Times . It’s “the mother of all-no brainers,...

Obama: Nothing Off-Limits
in Budget Debate

Jul 2, 2011 9:08 AM CDT

Obama: Nothing Off-Limits in Budget Debate

Except tax hikes, retorts GOP

(Newser) - Everything is on the chopping block as Democrats and Republicans wage their battle over the budget, according to President Obama: "Nothing can be off-limits," he said in his weekly address. Which might be news to Republicans, reports the AP, who are dug in on their stance that tax...

Your New Debt-Deal
Deadline: July 22

Jul 1, 2011 12:08 PM CDT

Your New Debt-Deal Deadline: July 22

White House says agreement needed by then to avoid default

(Newser) - The date for what may or may not be financial doomsday is now July 22. Both the Wall Street Journal and the New York Times say the White House has figured that to be the do-or-die day to hammer out a deal with Republicans to avoid an unprecedented default on...

Senate Cancels July 4 Recess

Jun 30, 2011 12:46 PM CDT

Senate Cancels July 4 Recess

McConnell challenges president to meet with Republicans

(Newser) - The Senate abandoned plans for a July 4 break as time dwindled for lawmakers to strike a compromise on avoiding a government default. Harry Reid announced the scheduling change today, a day after President Obama prodded lawmakers to act swiftly to extend the government's ability to borrow money. "...

Dems' Possible Strategy:
Declare Debt Ceiling
Unconstitutional

Jun 29, 2011 12:23 PM CDT

Dems' Possible Strategy: Declare Debt Ceiling Unconstitutional

Proponents say it violates the 14th Amendment

(Newser) - In their fight to raise the debt ceiling, a move largely opposed by Tea Party Republicans, Democrats are considering a surprise weapon—the Constitution. With negotiations at an impasse and default looming , Democrats are thinking of declaring the debt ceiling itself unconstitutional, as the 14th Amendment reads: "The validity...

Cantor Has Up to $15K Bet
on Government Default

Jun 28, 2011 9:16 AM CDT

Cantor Has Up to $15K Bet on Government Default

It's just a teeny tiny conflict of interest, Jonathan Easley argues

(Newser) - As Eric Cantor last week negotiated an increase in the federal debt ceiling, he had between $1,000 and $15,000 invested in a fund that aggressively shorts US bonds, according to his latest financial disclosure statement. If Congress fails to raise the debt ceiling and the US defaults, the...

White House: 'Significant'
Debt Deal Possible

Jun 27, 2011 5:07 PM CDT

White House: 'Significant' Debt Deal Possible

But Obama hasn't talked with Mitch McConnell yet...

(Newser) - The White House said today that a "significant" deal with Republicans on cutting government spending and raising the nation's debt limit is still possible, even as the administration hardened its stance on the need for increased tax revenue as "the only way to get it done."...

Bachmann:
See? I'm for Real

TALK SHOW ROUNDUP

Jun 26, 2011 12:17 PM CDT

Bachmann: See? I'm for Real

'People recognize that I'm serious,' candidate says

(Newser) - Michele Bachman is nipping at Mitt Romney's heels in Iowa, and she took to the airwaves today to trumpet that tidbit: “I am very serious about what I want to do. People recognize that I’m serious.” Chris Wallace didn't appear to take her seriously,...

Cantor Bails on Budget Talks

Jun 23, 2011 10:14 AM CDT

Cantor Bails on Budget Talks

Says Boehner, Obama need to work out tax issue

(Newser) - Eric Cantor has told reporters that he’s not attending today’s Joe Biden-led budget meeting, or any future budget meetings, because the group has reached an impasse over taxes that he thinks can only be bridged by John Boehner and President Obama. “We’ve reached the point where...

Congress Running Out of Time for Debt Ceiling Fix

Jun 21, 2011 7:53 AM CDT

Congress Running Out of Time for Debt Ceiling Fix

Deadlocked, it's on break 3 of next 6 weeks

(Newser) - Congress has six weeks to raise the debt ceiling before all hell breaks loose—and that’s a lot less time than it sounds like, because one or both chambers is scheduled to be on break for three of those weeks, the Washington Post observes. What’s more, Congress’ last...

House Rejects
Debt Limit Increase

May 31, 2011 6:48 PM CDT

House Rejects Debt Limit Increase

Move underscores GOP demand for spending cuts

(Newser) - House Republicans dealt defeat to their own proposal for a $2.4 trillion increase in the nation's debt limit today, a political gambit designed to reinforce a demand for spending cuts to accompany any increase in government borrowing. The vote was lopsided, with just 97 in favor of the...