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Oct 16, 2013

At 11th hour, U.S. edges away from brink of debt crisis

WASHINGTON, Oct 16 (Reuters) – U.S. Senate leaders announced
a deal on Wednesday to end a political crisis that partially
shut down the federal government and brought the world’s biggest
economy close to a debt default that economists said threatened
financial calamity.

U.S. stocks surged, nearing an all-time high, on news of the
deal, which must still be approved by vote in the Senate and the
House of Representatives. But trading volumes remained low,
underscoring how the political brinkmanship in Washington has
unnerved Wall Street.

Oct 16, 2013

U.S. Congress prepares to vote on breakthrough fiscal deal

WASHINGTON (Reuters) – U.S. Senate leaders struck a bipartisan 11th-hour deal to break the fiscal impasse on Wednesday, and the Republican-led House of Representatives agreed to take it up as Congress moved to avert a historic debt default.

With the government’s borrowing authority set to run out on Thursday, aides said House Speaker John Boehner would allow the deeply divided House to vote on the Senate plan for a short-term increase in the debt limit and a reopening of government, which was expected to pass with mostly Democratic votes.

Oct 16, 2013

U.S. Senate close to deal on debt limit, reopening gov’t -aide

WASHINGTON, Oct 15 (Reuters) – Democratic and Republican
leaders in the U.S. Senate could announce a deal late on Tuesday
to extend the government’s borrowing authority until Feb. 7 and
quickly re-open federal agencies that have been closed since
Oct. 1, a Senate aide said.

The development came after a chaotic day in which two House
plans failed and Fitch Ratings warned it could cut the sovereign
credit rating of the United States from AAA.

Oct 16, 2013

U.S. fiscal talks stumble as lawmakers race against time

WASHINGTON (Reuters) – Efforts by lawmakers to stop a U.S. debt default were in disarray on Tuesday with just over a day before the government’s authority to borrow money lapses, risking the Treasury’s ability to pay bills and creditors.

Chaotic negotiations to end the U.S. fiscal impasse failed to produce a deal, and left Congress and President Barack Obama desperately searching for a way to reopen the government and raise the country’s debt limit ahead of a Thursday deadline.

Oct 15, 2013

U.S. House Republicans in apparent disarray over fiscal impasse

WASHINGTON, Oct 15 (Reuters) – Republicans in the U.S. House
of Representatives failed to reach internal consensus on Tuesday
on how to break an impasse on the federal budget that could soon
result in an economically damaging default on the country’s
debt.

House Republican leaders proposed a plan to reopen the
government and avoid debt default but it was rejected in a
meeting with rank and file lawmakers. The plan differed in a few
important details from one in the U.S. Senate.

Oct 15, 2013

U.S. senators hint at possible fiscal deal on Tuesday

WASHINGTON (Reuters) – A month of combat in the U.S. Congress over government spending showed signs on Monday of giving way to a Senate deal to reopen shuttered federal agencies and prevent an economically damaging default on federal debt.

Senate Majority Leader Harry Reid, a Democrat, and his Republican counterpart, Mitch McConnell, ended a day of constant talks with optimistic proclamations, as details leaked out of the pact they were negotiating.

Oct 14, 2013

Senators close in on deal as threat of default nears

WASHINGTON (Reuters) – U.S. senators said they were closing in on a deal Monday that would reopen the government and push back a possible default for several months, though many hurdles remained as a Thursday deadline drew near.

The Senate’s top Democrat and top Republican both said they hoped they could soon reach an agreement that would allow them to avert a looming default and end a partial government shutdown that has dragged on for 14 days so far.

Oct 13, 2013

U.S. fiscal negotiations sputter as deadline nears

WASHINGTON (Reuters) – Congressional negotiations to end a U.S. fiscal crisis gripping Washington and spooking financial markets hung by a thread on Saturday after bipartisan talks broke down in the House of Representatives and shifted to Senate leaders.

Senate Majority Leader Harry Reid, a Democrat, held an initial session with Senate Republican leader Mitch McConnell. But uncertainty remained about their ability to reach an agreement quickly to end a partial government shutdown and increase the nation’s borrowing authority.

Oct 12, 2013

Deal to resolve fiscal crisis stalls in U.S. Congress

WASHINGTON, Oct 12 (Reuters) – Hopes for a resolution of
Washington’s fiscal crisis in the next day or two faded on
Capitol Hill on Saturday, as President Barack Obama’s efforts to
reach a deal with Republicans in the House of Representatives
sputtered.

The focus has now shifted to Senate Republicans’ ideas for
reopening the government and raising the government’s borrowing
authority, which runs out on Oct. 17.

Oct 12, 2013

Obama and Republicans search for a deal on U.S. fiscal impasse

WASHINGTON (Reuters) – President Barack Obama and congressional Republican leaders inched toward resolving their fiscal impasse on Friday, but struggled to agree on the length and terms of a short-term deal to increase the U.S. debt limit and reopen the government.

Obama met Senate Republicans at the White House and spoke by phone to House of Representatives Speaker John Boehner as negotiations intensified on how to get hundreds of thousands of federal workers back on the job and extend the government’s borrowing authority past the October 17 limit.

    • About Thomas

      "Thomas Ferraro joined Reuters in 1998; he has helped cover a number of presidential campaigns and is a veteran of Capitol Hill where he has seen Democratic and Republican majorities rise and fall. He has also covered a number of Supreme Court confirmation battles, including those of four nominees now on the highest U.S. court."
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