4:00am

Thu July 7, 2011
Economy

Debt Ceiling Fate Boils Down to Semantics

With the August deadline on the debt ceiling looming, President Obama and Republicans say they have agreed on a set of spending cuts. The president is insisting that the package include some revenue. The debate seems to center on when is a tax increase not a tax increase. David Wessel, economics editor of The Wall Street Journal, talks to Renee Montagne about Thursday's deficit reduction talks at the White House.

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