The breakdown of the latest U.S. deficit-cutting talks puts the onus on President Barack Obama and House Speaker John Boehner to bridge partisan differences over tax increases and cuts to entitlements such as Medicare.
House Majority Leader Eric Cantor and second-ranking Senate Republican Jon Kyl yesterday walked away from a seven-weeks-long negotiating effort led by Vice President Joe Biden to find a way to cut at least $1 trillion and raise the nation's $14.3 trillion debt ceiling before an Aug. 2 deadline.
"The goal of these talks was to report our findings back to our respective leaders," Biden said in a statement yesterday. "The next phase is in the hands of those leaders, who need to determine the scope of an agreement that can tackle the problem and attract bipartisan support."
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
- Exclusive discounts on ALM and Treasury & Risk events.
- Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
