The debt talks become a blame game, as an agreement seems no closer at hand.  And that's led to an ominous warning from the President: if there's no money to pay them, Social Security checks WON'T be in the mail after August 2nd.

FOX News Radio White House Correspondent Mike Majchrowitz reports from the West Wing...

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What does House Speaker John Boehner have to say about President Obama's statement and the daily debt negotiations?

Boehner sat down for an exclusive interview with FOX's Bret Baier on Tuesday's "Special Report"...

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Senate Minority Leader Mitch McConnell spoke out against President Obama on the Senate floor Tuesday.

McConnell says the President has only presented Republicans with three choices: smoke and mirrors, tax increases or default...

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To which White House Spokesman Jay Carney says...

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With the President rejecting the idea of a stop-gap measure that would provide for short-term relief, McConnell is offering another "last ditch" option.

His plan doesn't require majority approval for a debt increase in Congress...

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Under McConnell's back-up plan, President Obama would request a debt increase, which would then be voted down by a majority of Congress with a "disapproval resolution."  The President could then veto that resolution, raising the debt ceiling.