Senator Portman floats ideas to solve budget impasse...
Posted in the Banking Forum
#1 Oct 7, 2013
WASHINGTON (Reuters)- Republican Senator Rob Portman on Monday was circulating a plan to cut federal spending and reform the U.S. tax code as part of a broader plan to reopen shuttered government agencies and provide the Treasury Department with more borrowing authority in order to avoid a default...
While Democratic lawmakers and House of Representatives Republicans also were being consulted, the idea faced a major hurdle.
President Barack Obama and his Democratic colleagues in Congress have insisted that there be no negotiations over longer-term budget and tax issues until a week-long government shutdown is ended and the $16.7 trillion debt limit, which could be breached around October 17, is raised by Congress..
The point: Nothing is easy in Politics indeed!
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