July 20, 2011

DECLARE VICTORY AND SEND THE TROOPS HOME:

White House signals openness to short-term debt extension if tied to 'larger deal' (David Nakamura, Lori Montgomery and William Branigin, Updated: Wednesday, July 20, 2011, Washington Post)

President Obama would consider a short-term measure aimed at raising the nation's debt ceiling and avoiding a default by Aug. 2 if Congress agrees to a larger, long-term deficit-reduction and debt-ceiling deal and needs "a few days" to finalize the legislation, his spokesman said Wednesday. [...]

Obama has continued to push for a larger deficit-reduction package that includes a mix of reduced spending and increased revenues through changes to the tax code. A bipartisan group of senators called the "Gang of Six" submitted a package that would reduce the deficit by $3.7 trillion, a proposal the administration hailed as a step in the right direction. Carney declined to talk about specifics of the proposal but said Obama was encouraged by the group's approach.


Posted by at July 20, 2011 8:18 PM
  

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