July 30 - The Republican controlled Houseof Representatives rejected a Democrat backed debt bill. Deborah Gembara reports.
With the deadline to increase the U.S.'s debt limit closing in, the likelihood of a solution from lawmakers seem even more remote. The House of representatives rejected a Senate debt bill on Saturday. The Republican controlled House voted 246-173 against the bill proposed by Democrats. The measure comes a day after the Senate did the same thing to a House bill. Meetings at the White House between leaders from both sides brought only more disagreement. Republican Senator Mitch McConnell. SOUNDBITE: Republican Senator Mitch McConnell saying: "We both have talked to the president today and I think we have a chance of getting there. What I I think is not helpful is having show votes over procedural things like quorums." Senator Harry Reid. SOUNDBITE: Senator Harry Reid saying: "Today the speaker held a press conference to say they are in talks with the president and a plan raise the debt ceiling is in the works. Mr. President, members of the senate, that is not true. I just spent two hours with the president, the vice president and leader Pelosi and It's fair to say that the engagement there is not in any meaningful way." The Republican plan calls for an increase to the U.S. debt for six months with another vote later this year --- a sticking point that has enraged Democrats who say the short-term increase is politically motivated to keep the debt issue from being resolved. The drawn-out standoff is putting the risk at risk of losing its top-notch AAA credit rating. Deborah Gembara, Reuters.