U.S. Debt Ceiling August 2nd Deadline Inches Closer
Republican lawmakers say that if they raise the limit they need a commitment from the White House for more spending cuts. The Obama administration has resisted the idea of including spending caps or other budget-process reforms in legislation to raise the debit ceiling, arguing that ensuring the government’s solvency is too important to be held hostage to other issues. Once again political personal interests are threatening to blow up in the face of the United States with the American people in danger of taking the brunt of the fallout. President Obama is trying to get both sides to come to...
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