In the second half of August due to raise the debt ceiling threat, Obama dispatched Vice President Joe Biden and his team to meet with congressional leaders earlier this summer to find a compromise to convince Republicans to raise dollars 14300000000000 debt limit of the nation. Led by Majority Leader Eric Cantor, the Republicans refused to raise taxes under any circumstances. Democrats have emphasized what they call a "balanced approach" to solve the problem, which include a mix of spending cuts, tax increases on high incomes and reducing the number of tax credits and loopholes. The meeting ended abruptly left Cantor talks in June
With negotiations at a standstill, Obama spoke for two weeks, the President called Congressional leaders to the White House negotiations that eventually dissolved.
Long before the Republicans began negotiations with the White House, but the Gang of Six had met privately with the Senate to hash a long-term plan to reduce the deficit to put the country on a more sustainable way. So they kept silent about the details surrounding the plan, they worked for months against a proposal to cut billions of 4000 dollars from the federal budget over ten years. There was hope that between Obama's call for increased taxes, and Republican demands to reduce costs, the group could be an acceptable compromise.
For a time during the spring, the probability of a plan that seemed to be high. National headlines sounded a deal was imminent: "Gang of Six is closed on the deficit," wrote Hill, a newspaper in April "Gang of Six" in the compromise proposal on the deficit, "a title read Roll Call. two weeks later.
Details were poor, but they had a part: The agreement would include a reform of its law programs such as Social Security, Medicaid and Medicare, we talked about reducing the cost of discretionary programs, and while considering Coburn closing tax loopholes. Group members said they were preparing a plan that could "save our country."
With negotiations at a standstill, Obama spoke for two weeks, the President called Congressional leaders to the White House negotiations that eventually dissolved.
Long before the Republicans began negotiations with the White House, but the Gang of Six had met privately with the Senate to hash a long-term plan to reduce the deficit to put the country on a more sustainable way. So they kept silent about the details surrounding the plan, they worked for months against a proposal to cut billions of 4000 dollars from the federal budget over ten years. There was hope that between Obama's call for increased taxes, and Republican demands to reduce costs, the group could be an acceptable compromise.
For a time during the spring, the probability of a plan that seemed to be high. National headlines sounded a deal was imminent: "Gang of Six is closed on the deficit," wrote Hill, a newspaper in April "Gang of Six" in the compromise proposal on the deficit, "a title read Roll Call. two weeks later.
Details were poor, but they had a part: The agreement would include a reform of its law programs such as Social Security, Medicaid and Medicare, we talked about reducing the cost of discretionary programs, and while considering Coburn closing tax loopholes. Group members said they were preparing a plan that could "save our country."
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