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Debt talks widen as compromise plan surfaces in White House
Washington insiders report a fallback plan under Senate leaders would let Obama gain authority to raise the debt limit while triggering automatic spending cuts. Key figures Reid and McConnell weigh a two track approach as Cantor’s team pushes for more budget cuts and selective tax moves amid warnings from Bernanke and Dimon.
MENTIONED IN THIS ARTICLE
Senate
Barack Obama
Majority
Harry Reid
D-Ney
Mitch McConnell
Kentucky
Obama
White House
McConnell
House
Eric Cantor
Cantor
GOP
Federal Reserve
Ben Bernanke
Jpmorgan Chase
Jaime Dimon
U.S
Moody’s Investor Service
America
Standard & Poor’s
Dagong Global Credit Rating Co
Foreign Ministry
Hong Lei
Reid
Congress
Joe Biden