Washington (CNN) - Senate Majority Leader Harry Reid said Sunday there was no agreement yet on raising the federal debt ceiling, but "we are cautiously optimistic."
Washington (CNN) - Sen. Chuck Schumer said Sunday there is no final agreement on a deal to raise the debt ceiling, but described a mood of "relief" on Capitol Hill.
"If there's a word right here that would sum up the mood, it would be relief, relief that we won't default," the No. 3 Democrat in the Senate said on CNN's "State of the Union." "That's not a certainty but default is far less of a possibility now than it was even a day ago."
Washington (CNN) - Senate Minority Leader Mitch McConnell said Sunday that a deal to raise the debt ceiling is "very close."
Appearing on CNN's "State of the Union," the Kentucky senator said Republicans and Democrats "made dramatic progress" Saturday over a $3 trillion package of spending cuts that would not include tax increases.
(CNN)-It's early, and State of the Union is bringing you the best of the morning headlines to go with your cup of coffee.
This morning our guest host Gloria Borger will be bringing you the very latest on the debt ceiling negotiations, so be sure to watch our live interview with Senate Minority Leader Mitch McConnell at 9am ET.
Washington (CNN) -– Three senators from across the spectrum of ideological positions said Saturday that a bipartisan debt ceiling deal was necessary in order to prevent economic crisis.
Sen. Mark Warner, a Democrat; Sen. Rob Portman, a Republican; and Sen. Rand Paul, a Republican associated with the tea party, all said they were willing to work with members of the opposite party to strike a deal. Yet all three offered different specifics when it came to plans.
(CNN) - Senate Majority Leader Harry Reid, D-Nevada, said Saturday afternoon that GOP claims of new progress on a debt ceiling deal are "not true."
The Republicans "refuse to negotiate in good faith," Reid said. "The process has not been moved forward during this day."
Senate Minority Leader Mitch McConnell, R-Kentucky, said he remains "more optimistic" than Reid. "I think we've got a chance of getting there," he said.
(CNN) - Senate Minority Leader Mitch McConnell, R-Kentucky, said Saturday afternoon that he had talked to President Barack Obama and Vice President Joe Biden "within the last hour" and is "confident and optimistic" that there will be an "agreement within the very near future."
A national default "is not going to happen," McConnell said.
House Speaker John Boehner, R-Ohio, also expressed optimism that an agreement is near. "In spite of our differences, we're dealing with reasonable, responsible people," Boehner said.
Washington (CNN) - As lawmakers this weekend try to reconcile the two dueling debt bills in the House and Senate, one of the strongest forces they have to reckon with is the influence of the tea party lawmakers.
Their numbers are not overwhelming – of the 435 lawmakers in the House of Representatives, only 60 are members of the tea party caucus. Still, analysts say they have wielded outsized influence on the trajectory of the debt fight so far - but are also using tactics that could risk a backlash with the public.
Washington (CNN) - A White House official says President Barack Obama will meet with Senate Majority Leader Harry Reid and House Democratic Leader Nancy Pelosi at the White House at 3:30 pm to receive an update on the situation in the House and Senate.
Washington (CNN) - The Republican-controlled House of Representatives has rejected the debt ceiling plan proposed by Senate Majority Leader Harry Reid, D-Nevada.
The plan was rejected in a sharply polarized 173-246 vote. Republicans unanimously opposed the measure while most Democrats backed it.
GOP leaders conducted the vote on Reid's bill under rules requiring a two-thirds majority for passage, thereby ensuring its defeat.