Little Progress on Budget Talks

With just a week left before the government’s lights go dark, congressional and White House leaders have yet to find enough common ground to pass a new federal budget. “There is no number. There is no agreement,” warned House Speaker John Boehner. But he did say he was “not preparing for a government shutdown.” Meanwhile, President Obama sent a stern warning to Congress that letting the budget lapse would be the “ height of irresponsibility” and could “jeopardize our economic recovery.” Reports indicate that both sides are coalescing around a deal that would cut $33 billion—but no one’s quite sure where those savings would come from.