US President Barack Obama speaks during a news conference in the Brady Press Briefing Room at the White Houes in Washington, DC, July 11, 2011.
(Saul Loeb/AFP/Getty)
Another shot has been fired in the ongoing negotiations between President Obama and Republican Congressional leaders to raise the nation's debt limit before the August 2 deadline. Obama challenged Republicans in a press conference on Monday, saying that it was time for the GOP to back up rhetoric about tackling the country's long-term debt problems. Republicans leaders have said they will seek a smaller deal with more cuts to social program and no tax increases on the wealthy. Lawmakers will return to the White House for more negotiations this afternoon.
Washington correspondent Todd Zwillich and Louise Story, Wall Street reporter for our partner, The New York Times, have the latest developments.
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Comments [1]
Pardon my skepticism, but is there really a difference between "tax and spend" and "borrow and spend"? It's time to condemn "Trickle Down Economics" for the utter failure it has been and develop a realistic tax policy for this country: One which is not driven by the Ministries of Fear, Greed, and War.
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