To the Point
Debt Ceiling Negotiations and the Fear of Default
With Democrats angry at him for offering spending cuts and Republicans adamant about higher taxes, President Obama is trying to look like the only adult in Washington...
By Warren Olney • • 51m ListenWith Democrats angry at him for offering spending cuts and Republicans adamant about higher taxes, President Obama is trying to look like the only adult in Washington. We look at the politics of increasing the debt ceiling to avoid another recession. Also, Elizabeth Warren is bypassed for head of the consumer watchdog agency, and the Women's World Cup brings joy to a stricken nation.
Banner image: Checks are piled at the US Treasury printing facility in Philadelphia, Pennsylvania. President Obama recently stated that he can't guarantee retirees will receive their Social Security checks in August if the House and Senate can not reach an agreement on reducing the deficit. Photo Illustration by William Thomas Cain/Getty Images
In this episode
3 storiesElizabeth Warren Bypassed for Head of Consumer Watchdog Agency
President Obama disappointed supporters of Elizabeth Warren today by nominating Ohio's former Attorney General, Richard Cordray, to lead the new Consumer Financial Protection Bureau . But, as the confirmation process begins, he promised to hold out against changes to finance reform.
Read the story8 minPolitics and the Debt Ceiling
As the debt ceiling deadline looms, veteran Republican leaders reportedly are telling Tea Party members not to mess with America's full faith and credit. But some 40 House members say they won't vote to increase the ceiling, so Democrats will be needed, and their price is new revenues to save entitlements.
Read the story37 minJapanese Win at Women's World Cup a Tonic for Wounded Country
TV broadcasters told Japanese audiences to be inspired by their team. Coach Norio Sasaki told the players to think about the earthquake, tsunami and nuclear disaster as they worked their way up in World Cup competition. The outcome was a major sports upset and a much needed restoration of pride for a devastated nation.
Read the story6 min
