Boehner rewrites his bill, Obama pleads for pact
Jul 29, 2011 11:51:00 AM - thestate.com
House Speaker John Boehner hastily rewrote his stalled emergency debt-limit bill yet again Friday as Senate Democratic leader Harry Reid signaled he's ready to push ahead with his own version. President Barack Obama declared "we're almost out of time" in a wrenching political standoff that has heightened fears of a market-rattling government default.
"The power to solve this is in our hands on a day when we've been reminded how fragile the economy already is," the president said from the White House as many U.S. stocks fell in response to a sour report on economic growth and widespread uncertainty over the Washington debt stalemate. "This is one burden we can lift ourselves. We can end it with a simple vote."
A simple vote was hard to come by, just a few days before Tuesday's debt-limit deadline.
On Capitol Hill, Reid pressed forward with his legislation, setting up a showdown vote for Sunday. And Boehner moved to revise his measure in hopes of winning over reluctant rank-and-file conservatives who argue that the deficit cuts it contains are insufficient. The GOP leader pushed toward vote late Friday.
House Republican leaders met behind closed doors with their members in a last-ditch appeal after abruptly postponing a vote that had been expected on Thursday.
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