Debt Limit

9:45am

Tue February 5, 2013
The Two-Way

Obama Calls For Small Package Of Cuts, Tax Changes To Head Off 'Sequester'

Originally published on Wed February 6, 2013 5:02 am

President Obama at the White House on Tuesday.
Kevin Lamarque Reuters /Landov

(We updated the top of this post at 1:30 p.m. ET.)

Looking to head off deep, automatic spending cuts set to kick in on March 1, President Obama on Tuesday afternoon said that to avoid the negative economic effects that come with "political disfunction," Congress should move quickly to pass "a smaller package of spending cuts and tax reforms" that won't hurt the economy.

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10:38am

Wed January 23, 2013
The Two-Way

House Passes GOP's Debt-Ceiling Plan; Senate Democrats Offer Their Support

Originally published on Wed January 23, 2013 12:01 pm

The House of Representatives (Jan. 3 file photo).
Kevin Lamarque Reuters /Landov

Update at 1:25 p.m. ET: By a vote of 285-144, the House just passed a Republican plan that postpones for three months the federal government's next bump up against the so-called debt ceiling.

As we said earlier, the measure would head off another big battle over raising the government's borrowing authority — such as the one in 2011 that almost led to a government shutdown.

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3:52pm

Tue January 22, 2013
It's All Politics

President's New Term Doesn't Mean New Day In Congress

Originally published on Tue January 22, 2013 6:48 pm

The U.S. Capitol at sunrise on Monday, before President Obama's second inauguration. While the president raised big issues in his inaugural address — climate change, gay rights, immigration, the shooting of schoolchildren — none of them appear to top the agenda of Congress, which returned to work Tuesday.
Drew Angerer EPA /Landov

The Senate picked up Tuesday exactly where it left off nearly three weeks ago. By a twist of the rules, the Senate chamber remains in its first legislative day of the 113th Congress.

Senate Majority Leader Harry Reid, D-Nev., said he's kept things at the starting point so that he and his fellow Democrats have the option of changing the rules on the filibuster by a simple majority vote.

"The Senate will take action to make this institution that we all love, the United States Senate, work more effectively," Reid said Tuesday. "We'll consider changes to the Senate rules."

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12:55pm

Tue January 22, 2013
It's All Politics

Debt Limit? What Debt Limit?

House Republican leaders intended to put off the debt ceiling fight for three months. But could they accidentally be giving the Obama White House carte blanche to borrow like crazy through mid-May?

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11:35am

Tue January 22, 2013
The Two-Way

White House 'Welcomes' House Vote On Extending Debt Limit

White House spokesman Jay Carney.
Drew Angerer AFP/Getty Images

President Obama "welcomes" the plan by House Republicans to vote Wednesday on a three-month extension of the nation's borrowing limit, White House press secretary Jay Carney told reporters today, and "would not stand in the way of the bill becoming law." (The Hill)

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