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Biden: Tax cuts for wealthy have to be part of deficit reduction plan

Vice President Joe Biden said Saturday the Obama administration wouldn't let middle class Americans "carry the whole burden" to break a deadlock over the national debt limit, warning that the Republican approach would only benefit ...

 

Geithner Issues Warning on Debt Ceiling

Treasury Secretary Timothy Geithner warned in a letter to Congress that failure to raise the $14.294 trillion debt ceiling would drive up interest rates, push down household wealth, put more pressure on federal entitlement programs and cause a double-dip recession.

 

White House warns on debt limit, says Obama regrets vote

The White House on Monday urged Republicans not to tie an increase in the U.S. debt ceiling to spending cuts and admitted that President Barack Obama's own vote against an increase in 2006 was a "mistake".

 

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