Sen. Tom Coburn of Oklahoma said talks had hit an impasse. The "Group of Six" had met for several hours late Monday, but several sources report that Coburn ran into resistance when he proposed making cuts to Medicare that were considered "unacceptable" by other members. The Senator became upset, spilling his glass of milk all over the table and complaining that no one ever listens to him as he stomped out of the room.
The setback shifts attention to the closed-door negotiations being led by Vice President Joe Biden and congressional leaders to reach an agreement on budget cuts. Treasury officials have said the nation will default on obligations if its borrowing capacity is not increased by August 2. Republicans are demanding $2 trillion in spending cuts in exchange for their votes to increase the debt limit and avoid defaulting on obligations.
This game of chicken is getting a bit old for local governments that depend on federal distributions to maintain some critical services, and once again we are facing a damaging cut in funds on one hand and a suspension of federal spending on the other. No good.
This game of chicken is getting a bit old for local governments that depend on federal distributions to maintain some critical services, and once again we are facing a damaging cut in funds on one hand and a suspension of federal spending on the other. No good.
11 weeks and counting.
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