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Oct 11, 2013

Obama and Republicans struggle to break fiscal deadlock

WASHINGTON, Oct 11 (Reuters) – President Barack Obama and
congressional Republican leaders moved to end their fiscal
impasse on Friday, but struggled to strike a deal on the details
for a short-term reopening of the federal government and an
increase in the U.S. borrowing limit.

After the first signs on Thursday of movement in the
standoff, both sides worked furiously to find enough agreement
to get federal workers back on the job and extend the
government’s borrowing authority past the Oct. 17 limit.

Oct 11, 2013

U.S. Congress urgently works to end fiscal deadlock

WASHINGTON, Oct 11 (Reuters) – President Barack Obama will
press his case for a quick reopening of the entire federal
government coupled with an emergency increase of U.S. borrowing
authority when he meets with Senate Republicans on Friday.

With a partial government shutdown in its eleventh day and
less than a week to go before the Treasury Department runs out
of money to pay the government’s bills, the Democratic president
has been urging congressional Republicans to end a fiscal
impasse that has overtaken Washington and rippled through the
country.

Oct 11, 2013

Obama, Republicans continue talks after White House meeting

WASHINGTON (Reuters) – Republicans offered a plan to President Barack Obama on Thursday that would postpone a possible U.S. default in a sign the two sides may be moving to end the standoff that has shuttered large parts of the government and thrown America’s future creditworthiness into question.

No deal emerged from a 90-minute meeting at the White House, but the two sides said they would continue to talk. It was the first sign of a thaw in a political crisis that has weighed on financial markets and knocked hundreds of thousands of federal employees out of work.

Oct 10, 2013

Republicans unveil plan to avert U.S. default

WASHINGTON, Oct 10 (Reuters) – Republicans in the House of
Representatives on Thursday unveiled a plan that would avert a
looming U.S. default, in a sign that lawmakers may end a
standoff that has rattled financial markets and thrown America’s
future creditworthiness into question.

Ahead of a meeting with President Barack Obama, it was
unclear whether Republicans would be willing to end a government
shutdown that took effect on Oct. 1 without concessions that
would undermine Obama’s signature healthcare law, a stance that
precipitated the crisis.

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.

    • 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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