It’s tempting to call for a pox on both political parties in the deficit debate, but the fact is that President Barack Obama has been willing to give a lot to get an increase in the debt ceiling. His original proposal -- from which he now seems to be pulling back -- called for $2 in spending cuts for every dollar in increased revenue.
President Barack Obama today will meet with union leaders to try to heal a relationship strained by his agreement to extend Bush-era tax cuts . Behind the scenes, the White House is waging a broader campaign among Democratic Party loyalists to undo damage over the deal.
Federal Reserve officials and economic advisers are debating far-reaching differences on whether to accept a jobless rate that doesn’t fall much below 6.5 percent or act more aggressively to reduce it to 5 percent or less.
President Barack Obama and House Speaker John Boehner are engaged in negotiations over shrinking the budget deficit even as high unemployment is taking a greater human and financial toll on the nation’s economic health.