Forums

[sgtclub]

Originally Posted by Tyrone Slothrop

You should see what Reid's office says about this. (N.B. -- that's the Twitter page of Reid's communications director. Interesting wallpaper, given that.)

Senate Majority Leader Harry Reid, D-Nev., has been working on a fallback bill that officials said would cut $2.7 trillion in federal spending and raise the debt limit by $2.4 trillion in one step - enough borrowing authority to meet Obama's bottom-line demand.

In the process, though, another of the president's long-held conditions appeared to be in danger of rejection.

Neither Boehner's measure nor the one Reid was drafting included additional revenue, according to officials in both parties.

In remarks during the day, the president renewed his call for a balanced approach to cutting deficits that includes both spending cuts and higher revenue.

http://hosted.ap.org/dynamic/stories...07-25-12-14-43