U.S. lawmakers in the Senate said on Monday they hoped to reach a deal soon to reopen the government and avert a looming default as investors worried that Republicans and Democrats might not be able to resolve their differences by a Thursday deadline. After weekend negotiations proved fruitless, senators from both parties said they still thought they could reach agreement in the coming hours.
With the most unrealistic demands off the table, the two sides were trying to craft a temporary measure that would allow Washington to step back from the ledge. “I’m hopeful we can have something meaningful by the end of the day,” Republican Senator Roger Wicker of Mississippi said on MSNBC. The Treasury Department says it cannot guarantee that the U.S. government will be able to pay its bills past Oct. 17 if Congress does not raise the $16.7 trillion debt ceiling by then. It’s not clear whether Congress can meet that deadline.
Three days until the debt ceiling deadline. Stay tuned.
18:06 // 1 month ago
Another down-to-the-wire fight, potentially more toxic than usual, is rapidly shaping up in the U.S. Congress as conservatives prepare to exploit looming fiscal deadlines.
Whew. Reuters says it’s going to be “potentially more toxic than usual.” Okay.
15:30 // 2 months ago
President Barack Obama won’t negotiate with congressional Republicans over the U.S. government’s borrowing limit, he said in an interview that aired Sunday.
Not again. September 30th is the night. More from HuffPo.
15:00 // 2 months ago
The man with the signature of a Hostess treat passed confirmation on a 71-26 vote, with no Democrats opposing.
23:03 // 9 months ago