The Financial Times reports:
“President Barack Obama was on Tuesday facing a growing backlash from his liberal base in advance of Wednesday night’s State of the Union address State in which he will make fiscal deficit reduction a top priority for his administration…”
“Moreover, the Senate on Tuesday rejected a proposal to set up a bipartisan statutory commission to reduce mounting future deficits and national debt, which means Mr. Obama now has no option but to create a less powerful alternative body by executive order. In spite of getting a majority of 53 to 46, the proposal failed since it failed to cross the necessary 60-vote threshold…”
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