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At a press conference on Monday, President Obama rebuffed congressional leaders for their recalcitrance to make concessions in the ongoing debt ceiling negotiations, and continued to make his case for an ambitious, all-inclusive deficit reduction deal. But with chances for a grand bargain already nixed by House Republicans, Obama’s appearance seemed more about pressing his [...]
Tim Pawlenty didn’t have much choice: He had to go after Michele Bachmann sooner or later. The Minnesota congresswoman has completely overshadowed Pawlenty’s campaign, and appears on track to finish first or second in Iowa’s caucuses, where Pawlenty had banked on a splash-making strong showing that could vault him into subsequent primaries. (His advisers insist [...]
As Newsweek cover shots of Sarah Palin go, this was by far the best.
–An anonymous Republican member of Congress, quoted by Politico, explaining why John Boehner stopped seeking a grand bargain on deficit reduction.
Debt ceiling talks continue Monday with an Obama press conference and more meetings at the White House. Fourteen million Americans are “waiting on Roosevelt.” Elizabeth Warren is taking meetings with Senate recruiters. Sheila Bair sits for an exit interview. Believe it or not, she’s not going to work for a bank.
President Obama and congressional leaders met again on Sunday night for 75 minutes at the White House as they tried to hash out an agreement on a deficit reduction deal tied to the impending deadline to raise the federal debt limit. No deal was reached except to agree to meet again on Monday. Obama and [...]
Alright, back to work after a week at the beach…Hmm…Errr…Do I really have to? I mean, there are times–almost always, in fact–when work is the most fun I have in life. I’ve had the privilege of a front row ticket for the world’s best ongoing drama, the saga of the United States at its apogee. [...]
After days of hype in Washington, House Speaker John Boehner threw cold water on the prospect of a grand bargain on deficit reduction Saturday night, effectively scaling back negotiations on a deal tied to the effort to raise the debt ceiling before an Aug. 2 deadline. “Despite good-faith efforts to find common ground, the White House will not [...]
At Thursday’s White House meeting between President Obama and congressional leaders, Treasury Secretary Tim Geithner laid out in stark terms the awful economic repercussions of allowing the debt ceiling to lapse. Everyone in the room agreed that defaulting on U.S. debt would be disastrous and that something must be done. At that point, Nancy Pelosi [...]
TIME’s photo editors bring you the best photos of the past week, from the Beltway and beyond.
