House Speaker John Boehner will ask House Republicans for a short-term debt ceiling increase in an effort to avoid a default, The Associated Press reports.
A Wall Street analyst warned that not raising the debt ceiling or ending the government shutdown any time soon could have dire consequences for the global economy.
President Barack Obama held a press conference Tuesday at the White House on the continuing government shutdown and the looming debt ceiling.
Analyst: GOP Taking Blame Because ‘Public Has Become Conditioned To Blaming Republicans For Obstruction’
Republicans are taking it on the chin in the court of public opinion during the government shutdown.
U.S. Rep. Mike Pompeo said Monday he would “absolutely not” vote to raise the debt ceiling without spending cuts, downplaying the possibility of a U.S. default that has already made global markets nervous.
A market-rattling federal default loomed and the partial government shutdown lingered on Monday, but a gridlocked Congress betrayed little or no urgency toward resolving either of the nation’s most challenging short-term economic disputes.
An online dating website which bills itself as “The World’s Largest Sugar Daddy Dating Website” says it has recorded a 50 percent jump in average daily sign-ups since the start of the government shutdown.
House Republicans are far less ambitious this week in their demands for spending cuts to erase new debt issued to pay the government’s bills than they were during a budget battle two years ago.
House Republicans vowed Wednesday to pass legislation that would prevent a partial government shutdown and avoid a historic national default while simultaneously canceling out President Barack Obama’s health care overhaul, inaugurating a new round of political brinkmanship as critical deadlines approach.
Federal Reserve Chairman Ben Bernanke said Monday that it’s important that Congress raise America’s borrowing limit before the Treasury runs out of maneuvering room to avoid a potential default on U.S. debt.