Washington (CNN) –- Now, with only a week to go before the Treasury Department’s August 2 deadline for raising the debt limit, I must confess I am getting increasingly gloomy. I’m very worried no deal will be reached between President Obama and the Republican and Democratic leadership in Congress.
There may be some serious backroom talks going on to achieve an agreement. I certainly hope there are. But all I see in public is a lot of political posturing. If there’s no deal, there will be default, and the consequences will be awful for all of us.
Lisa Sylvester reports on the money special interest groups are spending to sway opinion on the debt limit debate.
(CNN)- White House adviser Elizabeth Warren will not helm the new Consumer Financial Protection Bureau permanently after all, but she's not losing sleep over it. Instead, she plans on thinking of another kind of political future once she passes on the baton of leading the agency.
She wouldn't confirm or deny current thoughts of a Senate challenge to Massachusetts GOP Sen. Scott Brown, but she did reveal where heavy thinking may take place in an interview with CNN anchor Wolf Blitzer Monday.
(CNN) - It’s hard not to be a bit cynical in watching politics unfold in Washington.
As you know, the Republicans are all lined up resisting any effort to simply pass an increase in the nation’s debt ceiling with a straight up-or-down vote. They insist on large-scale spending cuts.
Washington (CNN) - At the heart of the contentious talks between the White House and congressional Republicans on whether to raise the debt ceiling is a simple, one-sentence document many conservative lawmakers have signed, pledging not to increase taxes.
(CNN) – Words in Washington are important. President Obama and the Democrats always say that “millionaires and billionaires” can afford to pay higher taxes, especially when spending cuts will impact middle class families and the elderly. Given the nation’s high unemployment, House Speaker John Boehner and the Republicans counter by always saying that this is no time to increase taxes on “job creators.”
You won’t be surprised to find out that politicians on both sides are exaggerating.
(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.