(CBS News) WASHINGTON - Washington barely had time to catch its
breath after reaching a deal on raising taxes -- and battle lines are
already emerging for the next showdown.
This week, Treasury Secretary Timothy Geitner reported that the U.S. government has reached its borrowing limit: $16.4 trillion. This means that Congress and the president have roughly two months to work out a deal to raise that limit. Republicans are saying no deal without spending cuts.
President Obama returns from Hawaii to a capital city in full inaugural regalia. Republicans have their demands on spending cuts, but Mr. Obama has an inflexible demand of his own: no negotiations over raising the debt ceiling
"Fiscal cliff" averted: Time for the "mini-cliffs"
Obama faces fiscal hurdles, likely without Geithner
"Fiscal cliff" averted -- now what?
The grand stage at the Capitol is nearly complete. So, too, is the presidential reviewing stand just outside the White House gate.
The first family's Hawaiian vacation, carved up by fiscal cliff drama, ends Saturday. The president used his weekly address to tell the nation that raising the debt ceiling to avoid a government default is a problem for Congress.
Read more article here.
This week, Treasury Secretary Timothy Geitner reported that the U.S. government has reached its borrowing limit: $16.4 trillion. This means that Congress and the president have roughly two months to work out a deal to raise that limit. Republicans are saying no deal without spending cuts.
President Obama returns from Hawaii to a capital city in full inaugural regalia. Republicans have their demands on spending cuts, but Mr. Obama has an inflexible demand of his own: no negotiations over raising the debt ceiling
"Fiscal cliff" averted: Time for the "mini-cliffs"
Obama faces fiscal hurdles, likely without Geithner
"Fiscal cliff" averted -- now what?
The grand stage at the Capitol is nearly complete. So, too, is the presidential reviewing stand just outside the White House gate.
The first family's Hawaiian vacation, carved up by fiscal cliff drama, ends Saturday. The president used his weekly address to tell the nation that raising the debt ceiling to avoid a government default is a problem for Congress.
Read more article here.
