Debt Ceiling Showdown

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Wednesday, June 1, 2011 - 9:55am

President Obama calls GOP House members to the White House.

The White House says when President Obama meets with the House Republican Caucus today, his ears will be wide open.

Last night, every Republican said "no" to allowing America to borrow another $2 trillion to pay its bills.

Democrats called the vote a game.

Polls show Americans don't want to take on more debt, but if Congress does nothing, the Treasury Department says we'll default on our obligations in August.

Lawmakers can't agree on budget cuts, including restructuring Medicare.

Three Republicans first voted "yes" to raise the debt ceiling, then changed their votes before the final count.
 

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