JOE BIDEN

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Obama, lawmakers fall short on debt deal

President Barack Obama and top lawmakers fell short on Monday of finding enough spending cuts for a deal to avoid an August 2 debt default and Republicans came under fresh pressure to agree to tax hikes.

Obama increases pressure on Republicans on debt

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President Barack Obama on Monday increased pressure on Republican lawmakers to make concessions for a deal to avoid an August 2 debt default and said both sides must pull off the Band-aid and make sacrifices.

Taxes still a stumbling block in debt talks

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After months of effort, President Barack Obama and congressional Republicans are right back where they started as they try to avert a looming debt default: arguing over taxes.
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U.S. Senate Minority Leader Mitch McConnell, R-Ky.

Senate Republican Invites Obama to GOP Lunch; President Declines

In an attempt to put it all on the table, the U.S. Senate's top Republican invited President Obama to a GOP lunch at the Capitol to discuss the ongoing dispute over the debt ceiling and related issues, but the White House on Thursday declined the invitation.
Will Taxes Rise on Jet-Owning Income Group?

Obama Deficit Reduction Plan May Tax Slice of Mega-Rich, Not Rich

If your adjusted gross income is under $250,000, you may get a reprieve, if the Obama administration's latest deficit reduction proposal becomes law after debt ceiling talks have concluded. The administration is now said-to-be seeking to increase taxes on a narrow slice of the mega-rich, such as owners of private jets.
President Barack Obama

Obama Plunges Into Debt Ceiling Talks

President Barack Obama will meet with leaders from both parties Monday, seeking to overcome an impasse in negotiations over a deal to raise the federal debt limit.
President Barack Obama

President Obama to Enter Debt Ceiling Talks

President Barack Obama indicated Friday he is ready to take over the budget deficit / debt ceiling negotiations, inviting Senate leaders to the White House next week, as the continuing impasse pushes the U.S. closer to a potential default.
U.S. Capitol

Cantor, Kyl Quit Deficit Reduction Talks, Increasing Risk of U.S. Default

A year ago, it seemed implausible, perhaps absurd, to think the U.S.'s two, major parties, the Democratic Party and the Republican Party, would disagree so much that the United States would be at risk of defaulting on its bonds, due to a failure to raise the debt ceiling before the U.S. Government runs out of money in August. Now, incredibly, it appears a U.S. default is possible.
2012 U.S. Budget

CBO: Without Action, National Debt Will Exceed GDP in 2021

How big could the national debt get? Well, to paraphrase a line popularized by actor William Shatner, if Congressional lawmakers can not agree on a deficit reduction package, it’s going to get ‘really big’ -- grow to a total larger than the U.S. economy.
obama troops

Obama Expected to Announce First Phase of Afghanistan Troop Drawdown

In a speech he'll deliver to the nation Wednesday night, President Barack Obama is expected to announce the initial drawdown. However, regardless of the pace or scale of the withdrawal, the United States will maintain a substantial presence in the country, reflecting a decision on Obama's part to make the Afghanistan effort the lynchpin of his foreign policy.

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