STAFF BLOG CAPITOL CHATTER Franken urges super committee to spare rural hospitals
Sen. Al Franken worries that the so-called congressional super committee could create super problems for Minnesotas rural hospitals.
The Minnesota Democrat sent a letter to leaders of the Joint Selec... Posted on 11/18/11 at 12:53 PM
Jury is out on how default will impact Red River Valley Economists and analysts speculate that failure to raise the federal borrowing limit could lower the country’s credit rating, spike interest rates and cause ripples in the stock markets over America’s tenuous financial footing. But what would it mean for the Red River Valley?
While the walkouts, finger-pointing and ideological lines in the sand are nothing new to Washington politics, the current debt-ceiling stalemate has opened a dangerous new chapter in economic and political brinkmanship.
Sarah Palin is reloading again. Returning to the gunplay-flavored rhetoric that has become a trademark, the prospective presidential candidate urged conservatives in Congress on Wednesday evening not to back down in the increasingly chaotic fight over raising the federal debt ceiling, even as the nation teeters closer to a possibly catastrophic default.
President Barack Obama bluntly told Republican congressional leaders Wednesday they must compromise quickly if the government is to avoid an unprecedented default, adding, "Don't call my bluff" by passing a short-term debt limit increase he has threatened to veto.
With compromise talks at a vituperative standstill, Senate Republicans unexpectedly offered Tuesday to hand President Barack Obama new powers to avert a first-ever government default threatened for Aug. 2.
Pressing both political parties to give ground, President Barack Obama declared Monday he would reject any stopgap extension of the nation's borrowing limit, adding fresh urgency for Republicans and fellow Democrats to resolve intense tax and spending disputes and head off economic calamity. Open link and scroll to bottom of story for video of Pres. Obama speaking to reporters this morning
House Republican budget negotiators have abandoned plans to pursue a massive $4 trillion, 10-year deficit reduction package in the face of stiff GOP opposition to any plan that would increase taxes as part of the deal.
President Barack Obama prodded Congress Tuesday to reach a sweeping long-term deal within two weeks to raise the nation's borrowing limit rather than "kick the can down the road" with a makeshift, short-term solution to stave off default. And he declared the agreement must include the tax hikes Republicans strongly oppose.
North Dakota’s congressional delegation — like the rest of Congress — at odds on best way to fix federal deficit crisis
North Dakota’s congressional delegation agrees the country needs a comprehensive plan to slash deficits and get a grip on the national debt to stave off the looming fiscal crisis. But Democratic Sen. Kent Conrad and Republicans Sen. John Hoeven and Rep. Rick Berg are just as divided as the rest of Congress when it comes to what should be included in that plan.
he Senate canceled its planned July Fourth recess on Thursday, but partisan divisions remained razor sharp as the clock ticked on efforts to strike a deal to avoid a government default and trim huge federal deficits.
Our nation faces serious financial challenges. Our government continues to spend $1.5 trillion more than it is taking in. With revenues of about $2.2 trillion and spending about $3.7 trillion, the U.S. government is adding $4 billion dollars to our deficit every day.
Budget Committee Chairman Kent Conrad, D-N.D., said the plan calls for a complete overhaul of the tax code — stripping out numerous tax write-offs while lowering income tax rates — but would leave Social Security untouched. The tax reform idea would generate an overall revenue increase of about $1 trillion over the coming decade.
UPDATED 5:08 P.M. Democrats have readied a proposal to cut $20 billion more from this year's budget, a party official said, but they haven't yet sent it to House Republicans. That's because they say it's unclear whether the majority Republicans would accept a split-the-difference bargain they'd earlier hinted at or will yield to demands of tea party-backed GOP freshmen for a tougher measure.
North Dakota senator calls for deficit reduction plan With the growing national debt putting the U.S. on an “unsustainable course,” Sen. Kent Conrad, D-N.D., said Friday that there’s no time to waste for Congress to pass a bipartisan, comprehensive plan to bring down the federal deficit.
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