B.A. Spending Daily

News Roundup | July 12, 2011

Here’s a roundup of this morning’s must-read budget and economic stories:

According to The Associated Press, Los Angeles Times, The New York Times, and The Wall Street Journal, little or no progress was made Monday as President Obama and Congressional leaders continued negotiations on a plan to raise the statutory debt limit and cut the budget deficit. Politico says lawmakers are still at odds over taxes.

Bloomberg and The Washington Post say President Obama will not support a shorter-term deal to raise the debt limit.

Politico reports, as part of the negotiations, lawmakers are considering raising the Medicare eligibility age. However, according to The Washington Post, spending cuts to Medicare were rejected from the plan Monday.

The Washington Post’s Robert Samuelson says it’s unclear whether Social Security recipients will get their benefit checks if Congress doesn’t raise the debt limit.

The Washington Post examines Social Security’s role in the nation’s debt crisis.

The Financial Times and The New York Times look at the debt crisis in Europe.

The Hill reports the Senate passed a non-binding resolution Monday calling for higher taxes on millionaires.

 

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