WASHINGTON — With bipartisan talks stalled, House Republicans and Senate Democrats readied rival debt-limit emergency fallback plans in hopes of reassuring world financial markets on Monday the U.S. government will avoid an unprecedented default in barely a week.
WASHINGTON — Grasping for a deal on the nation’s debt, President Barack Obama and congressional leaders remained divided Sunday over the size and the components of a plan to reduce long term deficits. Saying “we need to” work out an agreement over the next 10 days, the president and lawmakers agreed to meet again Monday.
WASHINGTON — President Barack Obama plunged into deadlocked negotiations to cut government deficits and raise the nation’s debt limit Monday, and the White House expressed confidence a “significant” deal with Republicans could be reached. But both sides only seemed to harden their positions as the day wore on, the administration insisting on higher taxes as part of the package but Republican leaders flatly rejecting the idea.