Menu
Share
Share this story
Close X
 
Switch to Desktop Site

Debt ceiling crisis: another day without resolution as the clock ticks

The political dance over the US debt ceiling crisis continued Sunday with the possibility that top lawmakers could be summoned to the White House, although no meeting had been scheduled.

Regarding the debt limit crisis, White House budget director Jacob Lew says, "There might be a fringe who believes that playing with Armageddon is a good idea, but I don't think that's where the majority will be."

Michael Bonfigli/The Christian Science Monitor

About these ads

The political dance over the US debt ceiling crisis and federal deficits continued Sunday with the possibility that top lawmakers could be summoned to the White House for more negotiating – although no meeting had been scheduled.

Positions were clarified (or at least reiterated) on the morning TV talk shows as the clock kept ticking toward the Treasury Department’s August 2 deadline for raising the US debt limit in order to avoid Uncle Sam’s not being able to pay some bills.

The run-up to that Perils-of-Pauline moment is unlikely to include two very large discussion points: The grand plan for tackling the nation’s deficit and debt – a $4 trillion package over 10 years – once being seriously discussed by President Obama and House Speaker John Boehner. (Remember those halcyon days?) And the effort by some Republicans to leap-frog to a balanced budget amendment to the US Constitution. Not going to happen in the Democrat-controlled Senate.

National debt ceiling 101: Is a crisis looming?

Meanwhile, the political ground continues to shift as credit rating agencies, state governors, and independent voters weigh in on budgets, debt, and taxes.

Americans like lower taxes. No surprise there. Sixty percent cheered when Obama and congressional Republicans last year agreed to extend the Bush-era tax cuts, according to the Pew Research Center.

Next

Page:   1   |   2   |   3


Follow Stories Like This
Get the Monitor stories you care about delivered to your inbox.

Loading...