STAFF BLOG REPUBLIC INSIDER A wee crack in Thune's debt-ceiling position
So the debt ceiling drama is over (sort of) and SD's mighty 3 all voted 'yes.' (We'll discuss that soon.)
Meanwhile, South Dakota's junior senator - who's been all over the TV talking about this - ma... Posted on 8/3/11 at 12:27 AM
WASHINGTON — Declaring “we are not a deadbeat nation,” President Obama warned on Monday that Social Security checks and veterans’ benefits will be delayed if congressional Republicans fail to increase the government’s borrowing authority in a looming showdown over the nation’s debt and spending.
WASHINGTON — What occurred beneath the Capitol Dome on Wednesday afternoon was the U.S. Open of political gamesmanship, and freshman Republican Rep. Tom Reed of New York was the event’s Novak Djokovic.
Today, Senate Banking, Housing, and Urban Affairs Committee Chairman Tim Johnson (D-SD) issued the following statement on the market reaction to Standard & Poor’s downgrade of U.S. Treasuries.
“In the minds of serious, reasonable, and informed individuals there is no doubt that the U.S. will meet its debt obligations and we are seeing even more proof of that today. As the financial markets stumble, investors continue to regard Treasury debt as a safe haven in times of economic uncertainty. This irresponsible move by S&P may, however, have spillover effects that tax the American people by increasing interest rates on home loans, credit cards, and car loans, and by increasing the cost of finance for some state and local governments. I am deeply disappointed in S&P’s decision to enter into the game of political punditry.”
AP with information added by The Republic
, August 10, 2011
WASHINGTON (AP) - The Senate emphatically passed emergency legislation Tuesday to avoid a first-ever government default, rushing the legislation to President Barack Obama for his signature just hours before the deadline. The vote was 74-26.
WASHINGTON (AP) — Crisis legislation to yank the nation past the threat of a historic financial default sped through the House Monday night, breaking weeks of deadlock. The rare moment of cooperation turned celebratory when Rep. Gabrielle Giffords strode in for the first time since she was shot in the head nearly seven months ago.
HARTFORD, Conn. (AP) - The cost of the compromise needed to raise the federal debt ceiling likely will inflict more fiscal pain on states still struggling to recover from the recession and the end of federal stimulus spending.
WASHINGTON (AP) — Ending a perilous stalemate, President Barack Obama and congressional leaders announced a historic agreement Sunday night on emergency legislation to avert the nation’s first-ever financial default.
WASHINGTON (AP) — Senate Democratic leader Harry Reid served notice Friday that he's pushing ahead with his debt-limit bill as House Speaker John Boehner's rival measure languished in limbo, further escalating a wrenching political standoff that has heightened fears of a market-rattling government default.
Republicans are seeking deep spending cuts in exchange for raising the nation's $14.3 trillion debt limit to allow the government to keep paying its bills. The White House has threatened to veto the GOP bill if it makes it through the Democratic-controlled Senate.
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