October 7th, 2013
01:16 PM ET
11 months ago

White House signals possible opening on debt ceiling

Washington (CNN) - Is it a glimmer of hope, or more rhetoric as the deadline for possible government default gets closer?

After weeks of near silence without any hint of a potential compromise between the Obama administration and congressional Republicans over raising the nation's debt ceiling, the White House may be offering some conciliatory language that could lead to a deal to prevent a potential default on October 17.

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Filed under: Debt • Government Shutdown • national debt • White House
White House punts back to Congress over debt ceiling
October 7th, 2013
12:37 PM ET
11 months ago

White House punts back to Congress over debt ceiling

Updated 10/7/2013 at 1:08pm

Washington (CNN) - After weeks of near silence without any hint of a potential compromise between the Obama administration and Congressional Republicans over the thorny issue of raising the nation's debt ceiling, the White House may be offering some conciliatory language that could lead to a deal to prevent a potential default on Oct. 17.

As of last Friday, White House officials declined to specify any demand as to the length of a debt ceiling increase.
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Filed under: Debt • national debt • White House
Lew: Crossing debt ceiling dangerous and 'unthinkable'
October 6th, 2013
02:02 PM ET
11 months ago

Lew: Crossing debt ceiling dangerous and 'unthinkable'

New York (CNNMoney) - If the United States were to get close to the debt ceiling deadline, or even go over it, the consequences would be unthinkable, warned U.S. Treasury Secretary Jack Lew.

In a series of TV interviews, Lew sounded alarm bells over the fast-approaching limit to the U.S. borrowing authority. With the deadline just over a week away, Lew blasted lawmakers for "playing with fire" by not raising the debt limit.

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Filed under: Government Shutdown • Jack Lew • national debt
October 6th, 2013
11:16 AM ET
11 months ago

Cruz: Use debt ceiling debate for leverage

(CNN) - Sen. Ted Cruz of Texas linked raising the debt ceiling to funding the Affordable Care Act in an exclusive interview Sunday on CNN's "State of the Union” with Candy Crowley.

“The debt ceiling historically has been among the best leverage that Congress has to rein in the executive," Cruz said.
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Filed under: Government Shutdown • national debt • Ted Cruz
October 6th, 2013
10:39 AM ET
11 months ago

Lew: 'Congress is playing with fire' on debt ceiling

(CNN) – With 11 days left for Congress to vote to raise the nation's borrowing limit, and the government shut down, Treasury Secretary Jack Lew underscored the importance of raising the debt ceiling to avoid dire consequences domestically and around the world.

"On the 17th we run out of our ability to borrow, and Congress is playing with fire if they don't extend the debt limit," Lew said, appearing Sunday on CNN’s "State of the Union” with Candy Crowley.
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Filed under: Government Shutdown • Jack Lew • national debt
GOP floats six-week funding and debt ceiling extension
October 5th, 2013
03:26 PM ET
11 months ago

GOP floats six-week funding and debt ceiling extension

(CNN) – One idea being considered to end the immediate fiscal impasse is a bill to fund the government and extend the nation's borrowing authority for six weeks, a senior Republican member of the House told CNN Chief Political Analyst Gloria Borger.

The congressman agreed to speak with CNN on the condition of anonymity.

The GOP lawmaker said a committee could then be set up to negotiate the fiscal issues dividing the two parties and negotiate a plan to keep the government funded for the rest of the year without the proverbial gun to their heads.
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Filed under: Government Shutdown • House • House Republicans • national debt
Treasury: Even talking about default hurts economy
October 3rd, 2013
10:50 AM ET
12 months ago

Treasury: Even talking about default hurts economy

New York (CNNMoney) - The United States has never willfully defaulted on any of its legal obligations. So the consequences of doing so are unknowable.

But the general consensus is that it could be catastrophic. Or, in the best-case scenario, seriously damaging to the economy.

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Filed under: Debt • Government Shutdown • national debt • Treasury
The Obamacare echo chamber: Neither side will budge
September 28th, 2013
11:16 AM ET
12 months ago

The Obamacare echo chamber: Neither side will budge

WASHINGTON (CNN) - As a potential government shutdown inched closer Saturday morning, the Obama administration reiterated that it will not negotiate with Republicans over delaying the president's signature health care law.

A day after President Barack Obama said any attempt to "gut" or repeal the Affordable Care Act "will not happen under the threat of a shutdown," a White House official echoed the commander-in-chief, telling CNN's Jim Acosta a continuing resolution that alters or delays Obamacare will not merit the president's signature.

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Debt ceiling awaits Congress after summer break
Treasury Secretary Jack Lew has yet to give Congress a more precise deadline for raising the debt ceiling.
July 31st, 2013
10:55 AM ET
1 year ago

Debt ceiling awaits Congress after summer break

New York (CNNMoney) - It's not negotiable: Congress will have to soon raise the debt ceiling. The only question is when.

On Wednesday, the Treasury Department said again that it can continue to pay the country's bills in full without breaching the legal limit on borrowing until sometime after Labor Day.

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Filed under: Congress • national debt
Bachmann: The president has no plan
July 30th, 2011
02:22 PM ET
3 years ago

Bachmann: The president has no plan

Washington (CNN) -– Republican presidential candidate Michele Bachmann took to the House floor Saturday to slam President Barack Obama on his position in the ongoing debt stalemate.

“Throughout this debate over guaranteeing insane never before seen in the history of this country levels of spending, President Obama has coolly stood on the sidelines, his arms crossed, very simply castigating Republicans for not giving him a $2.4 trillion blank check,” Bachmann said.
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Filed under: Michele Bachmann • national debt
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