Boehner Seeks Additional Spending Cuts in Return for Debt Increase

In a June 11 interview, House Speaker John Boehner (R-OH) said that any further increase in the federal debt limit should be accompanied by additional spending cuts, according to Roll Call.

“I believe that if we’re going to increase the debt limit, there ought to be cuts and reforms in place that are greater than the increase in the debt limit,” Speaker Boehner said.

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Debt Limit to be Reached in October or November

The federal government will not reach its statutorily-set debt limit of $16.7 trillion until October or November, according a report released June 11 by the Congressional Budget Office.

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Does Growth on Wall Street Slow Growth Everywhere Else?

Bruce Bartlett, a former senior official in the Reagan and George H.W. Bush administrations, has an interesting new column at The New York Times that concludes that the growing "financialization" of our economy has resulted in increased income inequality and slower economic growth.

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Dissent: The Case for Higher Taxes (in Graphics)

Colin Gordon, a professor of history at the University of Iowa, has written an interesting (and interactive) article for Dissent that shows historic trends in taxes in the United States.

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Administration, Congress Still Searching for Elusive 'Grand Bargain'

Although declining budget deficits would appear to have undercut pressure for another grand bargain on deficit reduction, administration officials are continuing to meet with Congress in search of an agreement.

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Now Is Not the Time for a 'Grand Bargain'

The Washington Post took time this weekend to reprimand progressives who think continued budgetary austerity when the economy is still recovering is ill-advised.

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Senate to Begin Appropriations Process Week of June 17

The Senate Appropriations Committee is expected to begin consideration of annual appropriations bills starting the week of June 17, according to The Hill.

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Center for American Progress Report Challenges Austerity

The Center for American Progress (CAP), an organization that is generally supportive of Obama administration policies, has decided to part ways with the administration on the need for continued deficit reduction. In a new report, "It's Time to Hit the Rest Button on the Fiscal Debate," the organization argues that it is time to shift from deficit reduction to growing the U.S. economy.

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Boehner Charges Obama With Threatening Government Shutdown

House Speaker John Boehner (R-OH) accused President Obama of threatening a government shutdown on June 6. The charge came after the administration issued veto threats against two spending bills that are consistent with a broader House GOP effort to shift further budget cuts from defense spending to domestic programs.

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White House Threatens to Veto GOP Spending Bills

The White House has issued veto threats against two pending House spending bills, one funding the Department of Homeland Security (H.R. 2217) and another funding military construction and veterans affairs (H.R. 2216).

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