Debt Debate
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President Obama press conference addresses gun control, debt limit
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In the final press conference of his first term, President Barack Obama urged quick action on both raising the nation's debt limit and gun legislation.
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National debt supercommittee disagreeing on taxes, entitlement
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After weeks of secret meetings, the 12-member deficit-cutting panel established under last summer's budget and debt deal appears no closer to a breakthrough than when talks began.
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Rep. Chris Van Hollen named to supercommittee
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House Minority Leader Nancy Pelosi has named Rep. Chris Van Hollen, D-Md., to the debt supercommittee.
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Budget deficit, debt supercommittee members named
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Members of the powerful new committee responsible for coming up with a plan to reduce the federal budget deficit were named.
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Debt deal: House votes to raise debt limit, cut spending
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Rep. Gabrielle Giffords was among the 269 House members voting for a bill to keep the government from defaulting on its debts and cut spending.
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Deficit-reduction agreement picks up momentum in Senate
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The deficit-reduction agreement struck by the White House and congressional leaders picked up momentum in the Senate Monday, as a member of the Republican leadership predicted at least 30 GOP votes.
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Debt crisis: Obama, Congress reach a debt deal; vote likely on Monday
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Days before a potential financial default, President Barack Obama and Congressional leaders reached a deal to reduce the nation’s debt. The agreement is expected to easily pass the Senate today, but there could be some trouble in the House.
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People in Lafayette Square react to the debt deal
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After the debt deal was announced by President Barack Obama Sunday night, ABC7's Mike Conneen talked with people in Lafayette Square across from the White House.
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Budget Control Act of 2011: House Rules Committee releases text of debt deal
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Monday morning at 1:45 a.m., the House Rules Committee published the text of the bill the Congress will be considering today, titled as the Budget Control Act of 2011.
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Give Peas a Chance: No ceiling on clichés in debt debate
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There's been ominous talk of driving off a cliff, collateral damage, loaded guns, hostage situations, the dark cloud of uncertainty and the fog of the Twilight Zone. And catchphrases like "cut, cap and balance," later derided as "duck, dodge and dismantle."
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Debt ceiling debate works toward contentious compromise
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President Obama has just addressed the nation live, saying a debt deal has been reached between Republican and Democratic leaders, and government spending will be at the lowest level it has been since when Dwight Eisenhower was president in the 1950s.
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Last-minute debt compromise 'very near' - or not
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Late Saturday night, on the Senate floor, Harry Reid said, "talks are going on at the White House now," and he delayed a 1 a.m. Sunday vote on his bill until 1 p.m., to give time for a last-minute agreement.
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GOP leaders say debt-limit dispute will be solved
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Republican leaders in Congress say they are confident that an impasse will end soon over raising the government's debt ceiling and heading off default.
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Obama meets with Pelosi, Reid at White House Saturday
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President Barack Obama is stepping back into the debt-ceiling talks, calling Congress' top two Democrats to the White House for a meeting.
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