Stalemate over the Debt Ceiling Continues

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Last week, President Obama and Speaker John Boehner agreed that the debt-limit deadline had created an opportunity for something "big:" tax loophole-closings and spending cuts, including adjustments to Medicare, Medicaid and Social Security. But yesterday, Boehner backed off and called for a smaller package or even a stopgap. This morning, the President called any extension "unacceptable." As Washington's debt-limit brinkmanship continues with inconclusive meetings and political positioning, will Washington let the money run out? Will Medicare and Social Security be part of a final deal?





Warren Olney