Excerpt
SUMMARY: Reports of Republicans considering a tax rate hike in exchange for spending cuts next year prompted President Obama to reject linking the fiscal cliff to future debt ceiling limits. Judy Woodruff talks to Sen. Bob Corker, R-Tenn., who is optimistic for positive progress and hopes shared by all parties for a responsible outcome.
REMINDER:
- The Federal Budget is about what we THINK we will need IN THE FUTURE
- The Debt Ceiling is about the money we NEED to pay for WHAT WE OWE TODAY, most of which is mandated BY LAW, and effects our international credit-line
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