House, Senate Split on Debt Deal

Not only are the Republicans and Democrats split on the debt-limit debate. Now the House and Senate have also gone their separate ways. House Speaker John Boehner continues to press for a two-stage plan, while Senate Majority Leader Harry Reid staunchly opposes any notion of a short-term deal, fearing it will only postpone the debt-deal battle. "Speaker Boehner's plan, no matter how he tries to dress it up, is simply a short-term plan, and is therefore a non-starter in the Senate and with the President," Reid said in a written statement. Reid's approach is said to meet the GOP criteria of spending cuts that match or exceed the amount of the debt-ceiling increase, and no new tax hikes.