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It seems lawmakers moved farther apart this week in negotiations to avoid the fiscal cliff as the debt ceiling debate was rekindled.
Republicans are furious that President Obama is calling for a debt ceiling increase to be included in any deal on the Bush-era tax cuts, which are set to expire in January. Some call it an unprecedented power grab. Credit rating agencies are threatening to downgrade the U.S. and potentially Virginia and Maryland if lawmakers let the U.S. default on its debt.
Virginia Democrat Gerry Connolly says Republicans are playing with fire again.
"They almost brought this country to the brink of default, which would have been cataclysmic," Connolly says. "And it is because of their action we face sequestration."
While the debt ceiling doesn't represent the approval of any new spending, many rank-and-file Republicans say the fact that Congress is being asked to allow more borrowing shows the administration hasn't gotten serious about cutting the deficit.
Meet London's Master Architects In Jell-0
London duo Sam Bompas and Harry Parr have made names for themselves with their wild, experimental food installations. From pineapple islands and banana vapors to re-creations of famous architectural monuments, their work playfully pushes the boundary of how we experience food.Meet London's Master Architects In Jell-0
London duo Sam Bompas and Harry Parr have made names for themselves with their wild, experimental food installations. From pineapple islands and banana vapors to re-creations of famous architectural monuments, their work playfully pushes the boundary of how we experience food.Stunned By Military Sex Scandals, Advocates Demand Changes
As the nation prepares to mark Memorial Day, outrage has been building on Capitol Hill and beyond over the military's failure to repair a system that has placed service members in more danger of sexual assault than of battlefield injury.Google Reportedly Faces FTC Antitrust Probe Over Display Ads
The Federal Trade Commission is in the early stages of opening an antitrust probe into how Google runs its online display advertising business, according to a report by Bloomberg News, citing sources who want to remain anonymous because the FTC has not announced the probe.Leave a Comment
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