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Debt Ceiling

The Brian Lehrer Show

Debt Ceiling Details

Friday, July 29, 2011

There are lots of questions about what the effects of the debt ceiling showdown will be, but some answers are starting to emerge about what groups will be affected, regardless of which plan passes. Bloomberg News Congressional correspondent Lisa Lerer breaks down the details of the proposals, while Jason D. Delisle, director of the Federal Education Budget Project at the New America Foundation, discusses their impact on student borrowers.

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The Takeaway

Stocks Down as GDP Grows Just 1.3 Percent

Friday, July 29, 2011

According to new data from Commerce Department Friday, the U.S. economy grew at a dismal rate of just 1.3 percent, significantly lower than the 1.7 percent that had been expected. The new figures show the weakest period of growth since the recession officially ended. Some economists fear that the debt ceiling debate in Congress will produce cost-cutting measures that will slow the economy further. As the August 2 deadline to raise the debt ceiling approaches, it is unclear whether Congress will be able to pass a plan.

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The Takeaway

The Latest on the Debt Ceiling Standoff

Friday, July 29, 2011

Last night, House Speaker John Boehner was forced call off a vote on his proposal to raise the debt ceiling after failing to gain enough support among House Republicans. It is unclear if the House Republican leadership will attempt another vote today. Boehner's plan, which would allow for two modest debt increases — the second of which would come during the 2012 election season — to be coupled with spending cuts. Democrats, who control the Senate, and the White House have said all along that the plan is a non-starter. If Boehner cannot gain support from restive conservatives in his party, it could be a political gain to Democrats going into next year's elections.

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It's A Free Country ®

Debt Ceiling Details

Friday, July 29, 2011

On the Brian Lehrer Show today at 10:26am. Audio and a recap of this conversation will be posted here by 1pm.

There are lots of questions about what the effects of the debt ceiling showdown will be, but some answers are starting to emerge about what groups will be affected, regardless of which plan passes. Bloomberg News Congressional correspondent Lisa Lerer breaks down the details of the proposals, while Jason D. Delisle, director of the Federal Education Budget Project at the New America Foundation, discusses their impact on student borrowers.

 

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It's A Free Country ®

Read Transcript and Watch Video : Obama Addresses Nation on Debt Impasse

Friday, July 29, 2011

REMARKS BY THE PRESIDENT ON THE STATUS OF DEBT CEILING NEGOTIATIONS

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The Takeaway

Boehner Delays Vote on His Plan As Deadline Nears

Friday, July 29, 2011

Political negotiations on the debt ceiling are coming down to the wire. With just four days until the August 2 deadline, by which Congress must agree on a budget plan or default, House Speaker John Boehner delayed a vote on his debt ceiling legislation last night, after a long day of vote counting and arm-twisting failed to secure immediate support for his plan from conservative Republicans. The delay surprised the Democrats, who were expecting to kill the plan in the Senate, and move ahead with their own proposal.

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On The Media

Fact Checking the Debt Ceiling Debate

Friday, July 29, 2011

President Obama and House Speaker John Boehner presented dueling debt speeches this week in which each accused the opposing party of causing the debt ceiling impasse. Much of the press covered the speeches as political point and counterpoint and didn't spend much time fact checking what was said. Brooke spoke with FactCheck.org managing editor Lori Robertson who investigated the accuracy of speeches.

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On The Media

The Objectivity Bias

Friday, July 29, 2011

What happens when the fear of appearing partisan prevents journalists from accurately describing what's going on? Are journalists struggling with objectivity bias when it comes to reporting on the debt ceiling? The Columbia Journalism Review's Ryan Chittum tells Brooke  why he thinks the U.S. press has trouble communicating extreme political views.

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WNYC News

Cuomo: Debt Ceiling Deal Will Be Worked Out Before Deadline

Thursday, July 28, 2011

Governor Andrew Cuomo said he remains hopeful that President Barack Obama and Congress will resolve their differences over the debt ceiling, and that a default that could harm New York and other states won’t occur.

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The Takeaway

Is the Debt Debate Damaging the Republican Party Brand?

Thursday, July 28, 2011

The recent debt ceiling debate between Democrats and Republicans has invited dissident voices within the GOP, fracturing the party's image of solidarity. House Republican leaders delayed a vote on their plan to raise the debt ceiling Monday night after opposition from dissenting conservatives in the party. Last night House Speaker John Boehner was reportedly able to convince a growing number of House members to get behind the plan — but only reluctantly.

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The Takeaway

As Debt Deadline Looms, States Could Be Biggest Loser of Them All

Thursday, July 28, 2011

As the deadline for increasing the nation's debt ceiling inches closer, individual states are getting ready for the possibility that the Treasury will run out of cash. According to the National Association of State Budget Officers, 35 percent of state budgets rely upon federal funding to keep programs like unemployment, Medicaid, transportation projects and highways running.

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WNYC News

State Pension Fund, Budget Would Be Jeopardized by Fed Default: DiNapoli

Wednesday, July 27, 2011

President Barack Obama and Congress do not agree on a way to increase the federal debt ceiling, the default could affect New York State in a number of ways — from a weakened state pension fund to significant gaps in the state budget, the state's comptroller warned.

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It's A Free Blog

Opinion: Debt Impasse Raises the Question: Where are All the 3rd Parties?

Wednesday, July 27, 2011

One potential silver lining of the economic calamity that could come from a government default could be an 'I'm MAD AS HELL, and I'm not going to take it anymore!' moment, leading to a centrist, third party rising up and a bipartisan ticket taking the White House.

-Solomon Kleinsmith, It's A Free Country blogger.

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WNYC News

New Yorkers Weigh in on the Debt Ceiling

Tuesday, July 26, 2011

As contentious debt ceiling negotiations continue between President Obama and Republicans in Washington, D.C., we asked New Yorkers on Wall Street to weigh in on their greatest concerns about the standoff and how it affects their lives.

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It's A Free Country ®

How Obama Can Get to Yes on the Debt Deal: Lessons from Past Presidents

Tuesday, July 26, 2011

President Obama has had a muted legislative record so far this year, but this debt ceiling standoff is shaping up to be among his administration's most dramatic confrontations with Republicans. 

After signing the health care overhaul, the stimulus bill, and the auto bailout in his first two years – not to mention the tax deal, unemployment extension, DADT, 9/11 First Responders bill flurry during the lame duck Congress last year – Obama was forced to scale back his agenda with the new Republican majority in the House this year. 

Despite his past dismissiveness of small-scale initiatives, Obama has had to table other major pushes on immigration, clean energy, and education. But there was no way to avert this battle on the debt ceiling vote. And it only continues to heat up, with a firm primetime address on Monday and a veto threat on Tuesday. 

But now what? Here, a guide to how previous deals have made been made. 

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The Takeaway

Analyzing Obama and Boehner's Dueling Speeches

Tuesday, July 26, 2011

President Obama and House Speaker John Boehner both addressed the nation last night, explaining where each of their parties stand on the current debate over the debt ceiling. What impact did the speeches have?

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The Brian Lehrer Show

What to Do If We Default

Tuesday, July 26, 2011

Beth Kobliner, financial journalist, author of Get a Financial Life: Personal Finance in Your Twenties and Thirties, and member of the President’s Advisory Council on Financial Capability, gives advice on how to plan for the possibility of the U.S. defaulting on its debts.

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It's A Free Country ®

What to do If We Default

Tuesday, July 26, 2011

This is one of those times that stay the course, hold tight, all those theories make a lot of sense… You can’t time the market, you can’t figure out what’s going to happen next, so there’s no bets to be made for the individual investor.

Beth Kobliner, financial journalist, author of Get a Financial Life: Personal Finance in Your Twenties and Thirties, and member of the President’s Advisory Council on Financial Capability, on The Brian Lehrer Show.

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The Takeaway

What If Congress Doesn't Raise the Debt Ceiling By Aug. 2?

Tuesday, July 26, 2011

In his speech last night, President Obama urged the House and Senate to reach a compromise on a debt plan by August 2. "We can't allow the American people to become collateral damage to Washington's political warfare," he said. Immediately afterward, House Speaker John Boehner gave a live speech responding to Obama, in which he pushed for Obama to sign the Republican plan to raise the debt limit. The Democratic-led Senate and Republican-led House have proposed two vastly different plans. So, what happens if they can’t agree by the deadline? 

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The Takeaway

Parallels of National Decline: Poland and the US?

Tuesday, July 26, 2011

August 2 is one week away, and Congress still has yet to make a deal to raise the debt ceiling. Both sides of the debt debate are reluctant to compromise — both the Democrats and Republicans have now put forth plans to avoid a default on U.S. loans. The Republican plan includes immediate cuts and caps in discretionary spending, and raising the debt ceiling by less than $1 trillion. The Democratic plan includes a $1.2 trillion reduction in both defense and non-defense discretionary spending.

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