Challenging Obama, House GOP unveils new debt bill
WASHINGTON — In a blunt challenge to President Barack Obama, House Republicans drafted legislation Monday to avert a potentially devastating Aug. 2 government default — but along lines the White House has already dismissed. U.S. and world financial markets shrugged off the uncertainty.
"This is a city where compromise is becoming a dirty word," Obama lamented as congressional leaders groped for a way out of a looming crisis.
In stinging remarks a short while later on the Senate floor, the Republican leader, Mitch McConnell of Kentucky, urged the president to reconsider his position ra...