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Debt talks continue as White House seeks a 'plan B'
By: Bill O'ReillyJuly 26, 2011
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STORY EXCERPT
Reuters: The White House said on Tuesday that it was continuing to talk behind the scenes with members of Congress to break an impasse over lifting the U.S. debt limit and avoid a devastating default. The White House backs a plan from Senate Democratic leader Harry Reid to cut the deficit by $2.7 trillion over 10 years and increase the debt limit that would carry government borrowing past the November 2012 general election. It opposes a competing proposal from top congressional Republican John Boehner.
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