US House postpones debt ceiling vote as compromise sought

posted by
July 28, 2011
Bloomberg    
Posted in News

"House Speaker John Boehner, falling short of the votes within his own party needed to increase the U.S. debt limit after a night of one-on-one appeals to members, cancelled a vote on a plan that Senate leaders pledge to defeat. ... Behind the scenes, the officials said, talks center on how to force future deficit-cutting by Congress, by setting up consequences -- such as automatic spending cuts or tax increases, or some combination of the two -- if the savings aren’t achieved." (07/28/11)

http://tinyurl.com/3nvye3q  

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