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House Democrats introduce bill to eliminate the debt ceiling

Representatives Jerrold Nadler (D-NY), Hank Johnson (D-GA) and Jim Moran (D-VA) have introduced legislation to completely eliminate the federal debt ceiling, but the bill has little chance of survival with Republicans in control of the House. “The debt ceiling is truly arbitrary and has nothing to do with the deficit,”…

Poll: 79 percent of Americans dissatisfied with U.S. political system

Poll after poll has found that Americans are extremely disillusioned with the federal government, regardless of their political affiliation, after the president signed an agreement over the federal debt ceiling and budget deficit. According to a Washington Post poll released on Wednesday, just 21 percent of Americans are satisfied with…

Poll: Large majority disapprove of Congress but Americans split on Obama

Americans have a more positive view of President Barack Obama than Members of Congress after the contentious federal debt ceiling debate, according to a CBS News/New York Times poll released Thursday. Although Americans remain divided over Obama’s handling of the debt ceiling debate, he fared much better than Republicans and…

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…

WATCH LIVE: President Obama addresses the nation on raising the federal debt ceiling

Watch President Barack Obama’s speech from the White House’s East Room on the ongoing debt talks, courtesy of MSNBC, below: (Scheduled to begin at 9pm EST.) Visit msnbc.com for breaking news, world news, and news about the economy…

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