Debt Deadline Scramble

Thursday, July 28, 2011 - 9:18am

Lawmakers work feverishly to try to raise the debt ceiling, but they are not much closer to compromise.

Budget officials found another 50 billion in savings, so House Speaker John Boehner is putting his plan to a vote today.

New York Senator Chuck Schumer said, "The Speaker's plan is on life support and it's time for him to pull the plug."

House Speaker John Boehner said, "Never let 'em see you sweat."

A trillion dollars in cuts…it's no slam-dunk. His own party wants more and complains his plan would add seven trillion to our national debt.

Kentucky Senator Rand Paul said, "That is unacceptable and unsustainable."

House Republicans say they'd like to cut more, but Democrats won't budge.

California Representative Darrell Issa said, "You need a partner to dance with in the Senate and we don't have one."

Senate Majority Leader Harry Reid said, "It will not pass. Every Democratic senator will vote against it."

Democrats argue the Boehner bill doesn't cut enough, so our credit rating could suffer and interest rates may go up anyway.

Vermont Representative Peter Welch said, "That's about a $100 billion out of the pocket of the American taxpayer, so that's an enormous flaw in the Boehner plan."

The White House is trying to keep Congress focused on next week's deadline.

White House Press Secretary Jay Carney said, "From midnight August 2nd forward, you are running on fumes."


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