The Democratic Senate and Republican House put themselves on a legislative collision course Monday as they moved forward with significantly different plans on how to raise the debt limit and avert a possible federal default next week, according to NY Times.
President Obama, continuing to make use of his White House bully pulpit, will address the nation on Monday night on the “stalemate over avoiding default and the best approach to cutting deficits,” Jay Carney, the press secretary, announced in a Twitter message late in the afternoon.
The president’s decision to intervene comes after House Republican leaders pushed for a vote Wednesday on a two-step plan that would allow the federal debt limit to immediately be raised by about $1 trillion and tie a second increase next year to the ability of a new joint Congressional committee to produce more deficit reduction.
But top Senate Democrats called the proposal a “non-starter”…..
Find out the rest at: http://www.nytimes.com/2011/07/26/us/politics/26fiscal.html?_r=1&hp
No comments:
Post a Comment