Today's Situation Room:

Wolf Blitzer delivers the most important breaking news and political, international, and national security stories of the day. Tune to The Situation Room weekdays 5-7pm ET on CNN.

Wolf Blitzer delivers the most important breaking news and political, international, and national security stories of the day. Tune to The Situation Room weekdays 5-7pm ET on CNN.

July 13th, 2011
12:07 AM ET

What if the U.S. reaches debt limit?

CNN's Tom foreman takes a look at the implications of a government default.

RELATED: Taxes, Social Security fears cited in debt ceiling talks


Filed under: Debt • Deficit • Tom Foreman
BLITZER’S BLOG: Debt talks: A high-stakes game of chicken
July 11th, 2011
04:17 PM ET

BLITZER’S BLOG: Debt talks: A high-stakes game of chicken

(CNN) - There’s a very high-stakes game of chicken under way in Washington right now. The two sides have no choice but to reach an agreement in the coming days. Let’s see which side blinks.

President Obama says he fully expects a deal by August 2 raising the nation’s debt ceiling. But he also says he won’t accept any short-term, stop-gap deal – whether for 30, 60, 90 or even 180 days. Any agreement, he says, must go beyond the November 2012 elections.
FULL POST

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Filed under: Debt • Deficit • Politics • President Obama • Washington • Wolf Blitzer
July 2nd, 2011
11:30 AM ET

Fact check: Corporate jet tax break

CNN's Brianna Keilar finds out exactly how much revenue could be gained by eliminating the corporate jet tax break.

RELATED: Debt talks: Both sides digging in


Filed under: Deficit • President Obama • White House
June 29th, 2011
08:16 PM ET

Sen. Paul: No vacation for Congress until debt crisis is solved

(CNN) – Sen. Rand Paul wants the debt crisis solved quickly, even if it requires canceling his vacation until a deal is reached on the debt ceiling.

The Kentucky Republican is among lawmakers joining President Barack Obama’s calls for Congress to stay in session over the upcoming vacation week and confront America’s debt crisis.
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Filed under: Deficit • Sen. Rand Paul
June 26th, 2011
04:15 PM ET

Obama planning to revive debt talks?

CNN contributor Paul Begala and GOP strategist John Feehery debate the difference between tax increases and tax reform.

RELATED: President to meet Reid, McConnell for deficit reduction talks

SEE ALSO: BLITZER'S BLOG: When is a tax increase not a tax increase?


Filed under: Deficit • John Feehery • Paul Begala • Strategy Session • Taxes
BLITZER'S BLOG: When is a tax increase not a tax increase?
June 24th, 2011
03:55 PM ET

BLITZER'S BLOG: When is a tax increase not a tax increase?

WASHINGTON (CNN) - I guess we shouldn’t be too surprised that Vice President Joe Biden’s efforts to work out a deficit reduction deal with House Majority Leader Eric Cantor and Senate Minority Whip Jon Kyl collapsed over the issue of raising taxes on the wealthy.

Republicans are firmly opposed to raising taxes on anyone. Democrats want to see those families making more than $250,000 a year pay more income tax.
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Filed under: Deficit • Taxes • Wolf Blitzer
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