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BREAKING: Obama, congressional leaders strike deal to avoid debt default

President Barack Obama settled on a plan with congressional leaders to avoid debt default, announced just past 8:30 p.m. Sunday night. Senate Republican Leader Mitch McConnell, in a floor speech, reassured Congress that there was a plan in place. A vote is planned to take place Monday. “There is now…

Dozens of AK-47 rifles stolen from CA Army base

Twenty-six AK-47 rifles and a Dragunov rifle were stolen from a supply warehouse at Fort Irwin, an Army base in California’s Mojave Desert, the LA Times reported. Officials are offering a $10,000 reward for information about the plundering, which occurred July 15 but was only disclosed to the media late…

Herman Cain wins Denver GOP straw poll by landslide

Republican presidential hopeful and former Godfather’s Pizza CEO Herman Cain dominated the straw poll at Denver’s Western Conservative Summit Sunday, taking 48 percent of the vote, Politico reported. Cain garnered 246 ballots of the 508 cast, while the next runner-up, Texas Gov. Rick Perry (who has not officially declared his…

Lawmakers close to deal to avoid default

WASHINGTON (Reuters) – Lawmakers were close to a last-ditch $3 trillion deal on Sunday to raise the U.S. borrowing limit and assure jittery financial markets that the United States will avoid a potentially catastrophic default. The tantalizing possibility of an agreement raised hopes that a weeks-long partisan brawl over cutting…

Debt deal could spur Wall Street relief rally

NEW YORK (Reuters) – A deal involving up to $3 trillion in deficit cuts over a decade that would let U.S. lawmakers raise the U.S. borrowing limit and avoid default could spur a relief rally in Wall Street stocks and a rise in U.S. government yields on Monday. Senate Democratic…

Jim Cramer accuses Obama of creating ‘tremendous fear’ and ‘panic’

After explaining all of the terrible things that would happen if the U.S. debt ceiling was not raised, CNBC’s Jim Cramer said Sunday that all the “fear” and “panic” had actually been caused by President Barack Obama. “Now we’re talking about a recession,” Cramer told NBC’s David Gregory. “We will…

Senate blocks Harry Reid’s federal debt ceiling plan

WASHINGTON (Reuters) – The Senate defeated a Democratic proposal to raise the debt ceiling on Sunday as lawmakers closed in on a deal that would be acceptable to both parties. By a vote of 50 to 49, Senate Majority Leader Harry Reid’s plan fell short of the 60 votes needed…

Congressional Black Caucus to Obama: Use 14th Amendment to solve debt crisis

The Congressional Black Caucus on Saturday urged President Barack Obama to invoke the Fourteenth Amendment to raise the debt ceiling if Congress failed to pass the necessary legislation before August 3. “We believe that you have both the authority and a moral obligation to do so in order to avoid…

Bernie Sanders calls on Obama to use 14th Amendment to raise debt ceiling

During a speech on the Senate floor Saturday, Independent Vermont Senator Bernie Sanders called on President Barack Obama to invoke the 14th Amendment to raise the federal debt ceiling. “The Constitution is very clear in saying that the debts of the United States shall not be questioned,” he said. “The…

Wisconsin Republican candidate compared public schools to Nazi Germany

Kim Simac, a Wisconsin tea party organizer and Republican candidate for the August 9 recall elections has admitted to comparing the public education system to Nazi indoctrination in a now-deleted blog post from 2010. Talking Points Memo links to the cached version of the post, which originally appeared on the…

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