Accounting Today – President Barack Obama and Speaker of the House John Boehner, R-Ohio, made the case for their rival approaches to controlling the nation’s spiraling budget deficit as the clock ticks down to the August 2 deadline for raising the debt ceiling to avoid an unprecedented default on the national debt.
Obama backs a plan that Senate Majority Leader Harry Reid, D-Nev., plans to introduce in the Senate this week, while Boehner intends to introduce a Republican-backed plan in the House.
