FOXNEWS Americas Newsroom July 12, 2011
there's a major sticking point, republicans digging in against any tax hikes. >> there was never any agreement to allow tax rates to go up, in any discussion i've ever had with the white house. not once. bill: democrats pushing for those new taxes to bring down the debt. republicans calling for deeper spending cuts. the president calls for a deal by july 22. that's ten days from now. that way, congress has time to pass it before the august 2nd deadline. that's when many in the administration argue that we will start defaulting on some of our bills. stuart varney, fox business network...