ScreamingEagle
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- Jul 5, 2004
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Monday Jul 25, 2011 3:02 PM CT
House Speaker John Boehner and Senate Majority Leader Harry Reid are offering competing plans for Congress to lift the U.S.s $14.3 trillion debt ceiling and avert default before an Aug. 2 deadline.
Boehners two-step plan would raise the U.S. borrowing limit by up to $1 trillion and later by $1.6 trillion while requiring larger spending cuts, according to Republican aides.
Reids proposal would cut $2.7 trillion in spending and give President Barack Obama the full $2.4 trillion in additional borrowing authority he seeks, enough to get through the 2012 elections.
Boehner Debt Plan Seeks Boosts of $1T, $1.6T - Bloomberg
House Speaker John Boehner and Senate Majority Leader Harry Reid are offering competing plans for Congress to lift the U.S.s $14.3 trillion debt ceiling and avert default before an Aug. 2 deadline.
Boehners two-step plan would raise the U.S. borrowing limit by up to $1 trillion and later by $1.6 trillion while requiring larger spending cuts, according to Republican aides.
Reids proposal would cut $2.7 trillion in spending and give President Barack Obama the full $2.4 trillion in additional borrowing authority he seeks, enough to get through the 2012 elections.
Boehner Debt Plan Seeks Boosts of $1T, $1.6T - Bloomberg