Washington (CNN) - In a sharp turnaround, House Republican leaders signaled Thursday they are open to a backup debt ceiling plan pushed by Senate Minority Leader Mitch McConnell to avoid a default on the nation's credit.
"What may look like something less than optimal today, if we're unable to get to an agreement, might look pretty good a couple of weeks from now," House Speaker John Boehner said during a Capitol Hill news conference.
St. Paul, Minn., (CNNMoney) – Democratic governor Mark Dayton and leaders of the Republican-controlled legislature have reach a deal that will close the Minnesota's budget gap end the state's government shutdown "within days."
"It is my understanding that we have reached an agreement," Dayton said, as the visibly tired legislators emerged from a three hour meeting at the Capitol to speak to press.
Washington (CNN) - The Obama administration Thursday evening asked a federal appeals court to reconsider its order last week blocking the U.S. military from enforcing its "don't ask, don't tell" policy on gays and lesbians serving in the military.
U.S. officials have been moving ahead with dismantling the policy but had objected to having the courts force the government to officially repeal it at this time.
(CNN) - President Barack Obama will hold a news conference at 11 a.m. Friday on efforts to reach a deal on the debt ceiling and budget cuts, according to a senior administration official.
(CNN) – Former New York City Mayor Rudy Giuliani said he expects the power players in Washington to wait until the final hours of negotiations to strike a deal on the debt ceiling.
"That's a good strategy for both sides," Giuliani told reporters Thursday at an event hosted by the Seacoast Republican Women in Hampton, N.H. "That's what a good poker player does."
(CNN) - Republican Govs. Rick Perry of Texas and Nikki Haley of South Carolina urged Washington to follow in their states footsteps by instituting budget cuts, caps on future spending and a balanced budget amendment, cornerstones of the "Cut Cap and Balance Pledge" they signed.
In an op-ed in the Washington Post, the two governors said the system in Washington enables elected officials to avoid making the tough fiscal decisions required at the state level.
(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) – President Barack Obama and top congressional leaders met for a fifth straight day Thursday as the White House said the negotiators will have to shift their focus to increasing the federal debt ceiling if they fail to make significant progress by Friday toward a comprehensive deficit reduction deal that would cut spending and raise taxes.
White House spokesman Jay Carney told reporters the same thing Obama said at the talks the day before - Friday is the deadline to decide whether a broad agreement on debt reduction is feasible at this time.
Washington (CNN) – Accused by Democrats and a few of his Republican rivals of taking a low profile on the debt talks between Congressional leaders and the White House, GOP front-runner Mitt Romney has now hit the ceiling.
At a town hall meeting in the early voting state of New Hampshire Thursday, the former Massachusetts governor drew a "line in the sand," saying nothing short of the "Cut, Cap, and Balance" plan proposed by several conservative Republicans is acceptable as a condition for raising the debt ceiling.