Debt & Political Update

After an early morning reading of the debt news…or shall I say political news I have pulled together various pieces you may not have seen.  This should give readers of phillipsbillboard a quick update.  As all know there is much at stake here.

Debt talks blow up

By David Rogers (POLITICO)

Twenty days left and counting, the August debt ceiling showdown broke along two fronts Wednesday: the political forces of 2010 vs. 2012 and the shape and pace of tax reform in this Congress or the next.  Read the full story here.

Top Republicans clash over debt limit plan 

By Paul Kane and Lori Montgomery (The Washington Post) 

Two top Republican leaders clashed Wednesday over a plan that could allow the government to avoid a potentially catastrophic default but would not ensure the deep cuts in federal spending that party members seek.  Read the full story here. 

McConnell’s gambit splits both parties 

By Alexander Bolton (The Hill) 

A curveball from Senate Minority Leader Mitch McConnell (R-Ky.) has split Republicans and Democrats over what do to on the nation’s debt limit. 

Congressional Republicans argued over the plan while Democrats both praised and criticized it.  Read the full story here. 

McConnell’s escape hatch:  The best Washington can do? 

Editorial Board Opinion:  The Washington Post 

REGARDING SENATE Minority Leader Mitch McConnell’s backup plan to deal with the debt ceiling, we have a three-part reaction.  Read the full editorial here.

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