All Sides Gambling Down to The Wire on Debt

Monday, July 25, 2011

House Speaker John Boehner is betting that Americans want to cut spending only and not raise taxes. President Obama is betting that Americans see the White House as offering options to Congress — whether or not legislators take any of them. So whose bet will result in a win, whose will be a loss, and how will the gambling impact Americans and the world economy? Todd Zwillich, The Takeaway's Washington correspondent, talks about the latest news and how it's playing out. 


Todd Zwillich

Comments [1]


Cut, cap and balance which in a CNN poll shows is supported by a majority of Americans passed in the US Congress and was just narrowly defeated in the US Senate. Sen. Reid who has not submitted a budget in over 800 days called for an immediate vote on it without formal debate among Senators or a chance for them to hear from constituents. The President says there is a crucial need to raise the debt ceiling and raise taxes but couldn't that have been done swiftly last year when the Democrats controlled the Congress? Those decisions were left for a Republican majority which in seven months passed a budget and created a comprehensive economic plan to be reviewed and not just "numbers" with no specifics. The administration's actions, agenda and timing seem to be in keeping with a political and not an economic timetable.

Jul. 25 2011 08:37 AM

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