Debt fight continues despite Wall St. warning - Yahoo! News: "WASHINGTON – Facing a dire warning from a credit rating agency, the Obama administration lobbied some of Congress' most conservative members Thursday for an increase in the nation's debt limit. Republicans responded that the surest way to reassure financial markets was to enact deep deficit cuts.
At the White House, President Barack Obama told Democrats he expected talks led by Vice President Joe Biden to achieve only about 60 to 70 percent of the reductions required as part of the deal, officials said, leaving him and top lawmakers to agree on the rest. The Biden talks are aimed at producing a bipartisan debt-cutting package that could accompany a boost in the government's ability to borrow more money."
Friday, June 3, 2011
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