Washington (CNN) – House Speaker John Boehner told fellow House Republicans Thursday that he will know in the next few days whether an agreement on the debt limit is possible, saying he thinks the odds are "maybe 50/50," according to a Republican aide.
Boehner spoke to House Republicans behind closed doors before heading to the White House to meet with the president and other congressional leaders.
According to two Republican sources, reaching an agreement depends on whether the White House insists on tax hikes. One source added that top House Republican leaders are scheduled to meet at 4:45 p.m. ET in Boehner's office to discuss the White House meeting.
Washington (CNN) - You've heard the warnings by now.
If the federal government doesn't raise its debt ceiling by August 2, we're playing a nasty game of economic roulette. Interest rates may skyrocket. The dollar might crash. Your 401(k) could tank as markets tremble, the full faith and credit of the U.S. government teeters, and investors flee for safer havens.FULL STORY
Washington (CNN) - Republican presidential candidate Michele Bachmann launched her first 2012 election television ad highlighting her Iowa roots and fiscal conservatism.
"As a descendent of generations of Iowans, I was born and raised in Waterloo, as a mom of five, a foster parents, and a former tax lawyer and now a small business job creator, I know we can't keep spending money that we don't have," Bachmann says in the ad. "That's why I fought against the wasteful bailout, against the stimulus. I will not vote to increase the debt ceiling."
Washington (CNN) - The Democratic Governors Association will announce Thursday that it raised approximately $11 million the first six months of this year.
The DGA touts that their fundraising figure is more than double what it raised during the first six months of 2007, a comparable election cycle. The DGA also reports having $8.6 million cash on hand.
NEW YORK (CNNMoney) - There won't be any happy hours at The Independent in Minneapolis during the government shutdown.
The restaurant's liquor license expired just as a budget impasse in Minnesota put most state operations on hold. So both the state licensing bureau and the eatery had to shut their doors Friday.FULL STORY
Washington (CNN) - Mitt Romney seems to have everything going his way. The former Massachusetts governor is certainly ahead of the pack where it counts in fundraising and in many recent polls. He's the front-runner, right?
"Certainly that is where Mitt Romney is now. He's running really a strategy as a front-runner. He's not engaging the other candidates. He's focusing his attacks on Barack Obama. I think that's smart," said Doug Heye, a Republican strategist.FULL STORY
(CNN) – A top adviser to Tim Pawlenty's presidential campaign apologized late Wednesday for making a reference to Michele Bachmann's "sex appeal" during an interview.
Vin Weber apologized for the remarks originally made in an interview with The Hill newspaper regarding Bachmann.FULL STORY
NEW YORK (CNNMoney) - "Cut, cap and balance" is fast becoming the catchphrase of those who say they are serious about fiscal responsibility.
The proposal, made by a big group of House Republicans, would:
- cut federal spending in the next fiscal year by $380 billion;FULL STORY
The CNN Washington Bureau’s morning speed read of the top stories making news from around the country and the world. Click on the headlines for more.
For the latest political news: http://www.CNNPolitics.com
CNN: Officials: President Obama seeks $3 to $4 trillion in cuts
President Barack Obama is seeking $3 to $4 trillion in deficit cuts over the next decade, a move that would require putting Social Security, Medicare, defense spending and tax reform on the table as part of a balanced approach to cuts, Democratic officials familiar with the negotiations told CNN. The officials, speaking on condition of anonymity, did not say what types of cuts would have to be considered under such a proposal. In the past, one Social Security adjustment debt negotiators have discussed is cost-of-living.