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Boehner rewrites his bill, Obama pleads for pact

House Speaker John Boehner hastily reworked his stalled emergency debt-limit bill Friday as Senate Democratic leader Harry Reid signaled he's pushing ahead with his own version.

By Charles Babington | Updated on July 29, 2011

WASHINGTON (AP) — House Speaker John Boehner hastily reworked his stalled emergency debt-limit bill Friday as Senate Democratic leader Harry Reid signaled he’s pushing ahead with his own version. President Barack Obama declared “we’re almost out of time” in a wrenching political standoff that has heightened fears of a market-rattling government default.

“The power to solve this is in our hands on a day when we’ve been reminded how fragile the economy already is,” the president said from the White House as U.S. fell in response to a sour report on economic growth and widespread uncertainty over the Washington debt stalemate. “This is one burden we can lift ourselves. We can end it with a simple vote.”

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