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Oct 10, 2013

Republicans consider short-term U.S. debt ceiling increase

WASHINGTON (Reuters) – U.S. House of Representatives Republicans are considering signing on to a short-term increase in the government’s borrowing authority to buy time for negotiations on broader policy measures, according to a Republican leadership aide.

How long the increase might suffice – a few weeks or a few months – was unclear. But agreement by Republicans and Democrats to raise the debt ceiling would at least stave off a possible default after October 17, when Treasury Secretary Jack Lew has determined the government will no longer be able to borrow.

Oct 8, 2013

U.S. Republicans offer new plan in fiscal standoff

WASHINGTON, Oct 8 (Reuters) – Republicans offered a new
approach on Tuesday to resolve the U.S. fiscal standoff,
proposing creation of a bipartisan panel to work on deficit
reduction and find ways to end the government shutdown and make
recommendations on a debt-limit increase.

The proposal, which was quickly dismissed by Democrats, came
as House of Representatives Speaker John Boehner and President
Barack Obama spoke by telephone shortly after Boehner adopted a
slightly more conciliatory tone in comments to reporters.

Oct 8, 2013

U.S. Senate Democrats ready debt limit bill, Boehner wants talks

WASHINGTON, Oct 8 (Reuters) – U.S. Senate Democrats plan to
introduce a bill this week to raise the government’s borrowing
authority by enough to last through 2014 in an effort to avoid a
fiscal default that could have a disastrous economic impact.

The measure, which must be discussed among Senate Democrats
at a luncheon meeting on Tuesday, would not contain any of the
deficit reductions that Republicans have demanded, a Senate
Democratic aide said.

Oct 8, 2013

U.S. still in fiscal deadlock, but glimmers of hope emerge

WASHINGTON (Reuters) – A few faint glimmers of hope surfaced on Monday in the U.S. fiscal standoff, both in Congress and at the White House, with President Barack Obama saying he would accept a short-term increase in the nation’s borrowing authority to avoid a default.

Separately, a Senate aide said Republican Senator Rob Portman, an Ohioan influential on budget issues, was floating a plan to cut federal spending and reform the U.S. tax code as part of a broader deal to reopen shuttered government agencies and raise the government’s debt ceiling.

Oct 8, 2013

U.S. in fiscal deadlock, but glimmers of hope emerge

WASHINGTON (Reuters) – A few faint glimmers of hope surfaced on Monday in the U.S. fiscal standoff, both in Congress and at the White House, with President Barack Obama saying he would accept a short-term increase in the nation’s borrowing authority to avoid a default.

Separately, a Senate aide said Republican Senator Rob Portman, an Ohioan influential on budget issues, was floating a plan to cut federal spending and reform the U.S. tax code as part of a broader deal to reopen shuttered government agencies and raise the government’s debt ceiling.

Oct 7, 2013

Tensions rising, U.S. Republicans and Democrats focus on debt ceiling

WASHINGTON, Oct 7 (Reuters) – The White House on Monday
reiterated that President Barack Obama would not negotiate with
Republicans over the threat of a debt default, sticking to its
line as stock prices fell and a U.S. government shutdown moved
into its second week.

But White House National Economic Council Director Gene
Sperling did not rule out a short-term increase to the borrowing
cap, such as two or three weeks, which could offer more time for
an agreement. Speaking at a Politico breakfast, he said that
while the administration prefers an increase that would last as
long as possible, the length of the increase is Congress’s
decision.

Oct 7, 2013

U.S. Congress enters crucial week in budget, debt limit battles

WASHINGTON, Oct 7 (Reuters) – As the U.S. government moved
into the second week of a shutdown on Monday with no end in
sight, a deadlocked U.S. Congress also confronted an Oct. 17
deadline to increase the nation’s borrowing power or risk
default.

Republican House of Representatives Speaker John Boehner
vowed not to raise the U.S. debt ceiling without a “serious
conversation” about what is driving the debt, while Democrats
said it was irresponsible and reckless to raise the possibility
of a U.S. default.

Oct 7, 2013

U.S. Congress enters crucial week in battles over budget, debt limit

WASHINGTON (Reuters) – As the U.S. government moved into the second week of a shutdown on Monday with no end in sight, a deadlocked U.S. Congress also confronted an October 17 deadline to increase the nation’s borrowing power or risk default.

The last big confrontation over the debt ceiling, in August, 2011, ended with an eleventh-hour agreement under pressure from shaken markets and warnings of an economic catastrophe if a default were allowed to occur.

Oct 4, 2013

Focus on debt ceiling as U.S. shutdown drags on; Obama cancels trip

WASHINGTON, Oct 4 (Reuters) – House Republicans huddled on
Friday to plot their next move on the fourth day of a U.S.
government shutdown that many fear will drag on until bickering
Washington politicians reach a deal to raise the debt ceiling
and avoid a default.

Even the possibility of the United States defaulting on its
financial obligations for the first time in history has rattled
financial markets and prompted warnings that such a move could
derail the still fragile economic recovery.

Oct 4, 2013

U.S. shutdown seen dragging on as debt ceiling fight nears

By Mark Felsenthal and Richard Cowan

(Reuters) – The shutdown of the U.S. government appeared likely to drag on for another week and possibly longer as lawmakers consumed day three of the shutdown with a stalling game and there was no end in sight until the next crisis hits Washington around October 17.

Bowing to the reality that the impasse requires him to remain in Washington, President Barack Obama canceled plans to attend summits in Indonesia and Brunei next week. Earlier this week, he canceled visits to Malaysia and the Philippines because of the shutdown.

    • About Richard

      "I have been a Washington correspondent for Reuters since 2001. I have written about climate change and the environment, the U.S. Congress, politics, economic issues and agricultural trade disputes."
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