White House and congressional negotiators are considering a $2.4
trillion rise in the U.S. debt limit to carry through to the
end of 2012 which would require at least $2.5 trillion savings
over a decade or more!!!!
There is a new six person team working with Joe Biden to work out
a spending cut and debt limit deal before August 2nd, when the
Treasury Department said it will run out of tools for managing
the U.S. debt without an increase in borrowing authority.
The group's next meeting is set for tomorrow.
Sheila McKinney
