By David Lawder – Congressional Republicans, frustrated by the failure of earlier efforts to get President Barack Obama to agree to spending cuts, suddenly find themselves in a fight to keep their grip on the one tool they thought would give them better leverage: Their threat to block an increase in the government’s ability to borrow money next month.
Rather than dwell on the impact of debt default on credit ratings that many people don’t fully understand, Obama spoke instead of troops, retirees and air traffic controllers all being without their paychecks should Republicans make good on their threat. more> http://tinyurl.com/avox9pg
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