“Face the Nation” transcript for May 20: McConnell, Warner, Graham

Debt, spending, Afghanistan and politics are topics for the show

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Chicago NATO Cyberattack? Anonymous Claims Credit For City, Police Website Crashes

The City of Chicago website and the website for the Chicago Police Department crashed on Sunday amid explosive protests related to the ongoing NATO Summit.

Authorities are investigating allegations that the interruptions could be related to a cyberattack.

“We are aware of the potential issue of the City of Chicago website and are working with the appropriate federal authorities to address the situation,” Office Of Emergency Management and Communications spokesman Pete Scales told CBS Chicago.


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John Boehner, Mitch McConnell Refuse To Budge On Debt Positions

WASHINGTON -- Republicans and Democrats aren't budging when it comes to their already hardened positions on spending cuts versus tax increases to deal with the nation's debt.

House Speaker John Boehner and Minority Leader Mitch McConnell both said Sunday that when Congress is asked to raise the nation's borrowing cap after the election, they'll insist on spending cuts to offset the increase. McConnell said it was the "perfect time" to have a broader debt discussion.


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Greece Crisis Is Personal As Well As Political, As Greeks’ Lives Worsen

ATHENS, Greece -- Like many Greeks left unemployed by their country's economic tailspin, Dimitris Spachos finds it easier to talk about his nation's problems than his own.

Enormous debt accumulated over decades sent the country into a recession so deep it kills 200 businesses and 900 jobs every day. Elections this month failed to produce a government, and Greeks will vote again in June. Meanwhile, life for most Greeks continues to get worse.


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Newt Gingrich Debt Grows To $4.7 Million For Failed Presidential Bid

Newt Gingrich may have ended his quest for the Republican presidential nomination, but his journey to retire the $4.7 million in debt he piled up during his run is just beginning.

In a report provided to the Federal Election Commission on Saturday, the Gingrich campaign revealed that it had increased its total debt by $400,000 in April, despite having announced it had paid off $500,000 at the end of March.

Much of the new debt is owed to the candidate himself. The campaign shows debts owed to Gingrich for travel expenses increasing by $300,000 in April.


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Greek crisis dominates G8 summit

Concerns about whether debt-laden Greece will be forced to pull out of the eurozone, and what that would mean for a weakened European economy is the first topic on Saturday's agenda at the Group of Eight summit hosted by U.S. President Barack Obama, a senior administration official said.

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Top Democrats Suspect Republicans Try To Sabotage Economy To Hurt Obama

By CHARLES BABINGTON, ASSOCIATED PRESS

WASHINGTON -- Are Republican lawmakers deliberately stalling the economic recovery to hurt President Barack Obama's re-election chances? Some top Democrats say yes, pointing to GOP stances on the debt limit and other issues that they claim are causing unnecessary economic anxiety and retarding growth.

The latest Democratic complaint came after House Speaker John Boehner said Tuesday that when Congress raises the nation's borrowing cap in early 2013, he will again insist on big spending cuts to offset the increase. Boehner, R-Ohio, continues to reject higher tax rates, which Democrats demand from the wealthy.


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Europe Austerity Backlash Holds Lesson For Romney: Focus On Growth

WASHINGTON -– Austerity is out. Growth is in. And Mitt Romney's campaign has taken notice.

Politicians in Europe and in President Barack Obama's administration can't get enough of the G word these days. "Growth must be a priority, at the same time as we put in place some fiscal compact to improve our finances," said the new French President Francois Hollande, during a visit with Obama in the Oval Office on Friday.

Hollande defeated incumbent Nicolas Sarkozy earlier this month, riding a backlash in France against programs that have sought to reduce sovereign debt by cutting government spending. Voters in Greece have rebelled even more fiercely against cuts to government jobs and benefits, placing their country on the verge of an exit from the European Union and a potential collapse.


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Spain seeks financial calm

Spain's government called for calm Friday, a day after rating agency Moody's downgraded 16 Spanish banks in the latest sign of distress in Europe.

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Do voters want moderates out of D.C.?

Republican Speaker of the House John Boehner drew a hard line in the sand this week, renewing a battle over the debt ceiling unless President Barack Obama agreed to significant budget cuts during what may be a lame-duck session after the November elections.

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