National debt limit: Grand bargain eludes, narrow deal likely
The House rejected a measure Tuesday to simply raise the national debt limit, no strings attached. Obama meets Wednesday with GOP lawmakers on fiscal issues. Why a sweeping deal is unlikely.
By Mark Trumbull, Staff writer
CSMonitor.com
June 1, 2011
With President Obama and congressional leaders entering a high-stakes meeting Wednesday, a vote in the US House of Representatives has laid down an important marker: Republicans won't raise the national debt limit without conditions attached to curb future spending.
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Others argue that, although the Treasury can borrow at low interest rates now, the US can't count on staying in good favor with bond investors for too much longer. They say that waiting to consider fiscal reforms until after the 2012 election, for example, could be risky.
The credit-rating firm Standard & Poor's recently warned that it may need to downgrade its safety rating for US debts within two years.
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Full article: http://www.csmonitor.com/USA/Politics/2011/0601/National-debt-limit-Grand-bargain-eludes-narrow-deal-likely
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