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Budget / President-Congress Showdown / A Discussion #997419

CNN Evening News for Monday, Jul 11, 2011
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(Studio: Anderson Cooper) The second day of meetings between President Obama and leaders of Congress to come up with a deficit reduction plan noted. [OBAMA - speaks about what he told Republicans and the issue of tax changes.] [Representative John BOEHNER - says we cannot have a bill raising taxes.] [In 2009, OBAMA - says normally you don't raise taxes in a recession.]

(Studio: Anderson Cooper) Live discussion held with CNN's Gloria Borger and Comeback America Initiative David Walker on budget, the debt ceiling, tax reform and a political deal. [WALKER - says we have to raise the debt ceiling; predicts tax and entitlement reform down the line; admits the party base will not support raising taxes thus giving the president the high road; states Congress has to stay in session until a deal is reached.] [BORGER - says this is a defining moment for the Republican Party with House Republicans taking a "no tax" pledge meaning the party cannot take a deal; speculates about what is likely to happen.]

Reporter(s):
Cooper, Anderson
Duration:
00:08:20

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