WSJ: Hitting the Debt Limit

President Obama and eight congressional leaders, including Speaker Boehner, are scheduled to meet at the White House tonight to determine how big a deal they can achieve. ∴ News that the unemployment rate rose to 9.2% in June, its highest level this year, pushed members of both parties further into their rhetorical corners Friday. ∴ Mr. Boehner, under pressure from Republicans to reject any tax increases, said the jobs data were a sign negotiators face a "dire" situation and "tax hikes on families and job creators would only make things worse." ∴ Still, Mr. Boehner has opened the door to a compromise on the thorniest tax issue by entertaining the idea of linking a broad rewrite of the tax code to allowing tax cuts for upper-income people to expire. Read more at WSJ...