Obama lashes GOP over debt talks and tax demand
President Obama denounces Republican intransigence as he urges tax increases to cut deficits and avert a default. He proposes a one year Social Security payroll tax extension and presses Congress to cancel the July 4 recess if progress stalls, warning of August debt deadline.
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Greece approves sharp austerity to avert default
Greece passes a deep package of spending cuts and tax hikes to keep the €157 billion bailout flowing from the EU and IMF. Parliament backs $40 billion in tax increases and cuts, privatization to raise $7 billion through 2015, with $17 billion in fresh loans through September amid protests and tear gas outside the Parliament building.
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