October 15th, 2013
09:15 PM ET
1 year ago

Shutdown lowdown day 15: What you need to know

(CNN) – A dramatic day began in the Senate and ended there following a series of excruciating twists and turns in the House.

Speaker John Boehner failed to round up enough support to pass a leadership plan to end the shutdown and avert a possible debt default, so it was never put to a vote.

Emboldened conservatives want more substance, and Boehner instead kicked it all to the Senate, which had suspended its own talks on a compromise to first see if anything would pass the House.

President Barack Obama said Boehner can’t control his caucus while the President had House Democrats over to the White House where Minority Leader Nancy Pelosi said her conference was buttoned up tight in opposition to the Republican plan.

As night fell and the House initiative fell apart, Harry Reid and Mitch McConnell resumed talks on their effort that supporters hope will garner enough bipartisan backing to ultimately pass and pressure reciprocal action in the House – with Democrats and a strong enough helping of Republicans going along.

But things must happen quickly and there’s new and serious pressure bearing down on the Capitol. The Obama administration says it runs out of borrowing authority on Thursday and Wall Street is now pretty spooked. Stocks snapped a win streak and a major bond rating house, Fitch, is talking downgrade of the gold-plated U.S. credit rating unless Congress acts immediately.

Here’s what you need to know:
FULL POST


Filed under: Congress • Debt • Government Shutdown
House Republicans to offer plan
October 15th, 2013
10:10 AM ET
1 year ago

House Republicans to offer plan

(CNN) - House Republicans will offer their own plan on Tuesday to temporarily reopen the government and raise the federal debt ceiling while also making changes to Obamacare, GOP sources told CNN's Dana Bash and Deirdre Walsh.


Filed under: Congress • Debt • Government Shutdown
October 15th, 2013
08:15 AM ET
Debt ceiling crisis could leave millions in lurch
October 14th, 2013
03:55 PM ET
1 year ago

Debt ceiling crisis could leave millions in lurch

(CNNMoney) - Social Security recipients. Doctors who treat Medicare patients. Military pensioners. Companies with federal contracts. Government workers. Bond investors.

If Congress fails to raise the debt ceiling in time, anyone owed money by the federal government could eventually be left in the lurch.

FULL STORY

Filed under: Debt
October 14th, 2013
01:50 PM ET
1 year ago

Shutdown lowdown Day 14: The latest

(CNN) – While a Senate deal may be in the works, a key White House meeting is on hold. Still, government workers have received a reduced paycheck that reflects the furloughs, unemployment claims have skyrocketed, government-affiliated businesses are scrambling to stay afloat, states are dipping into their rainy-day funds. Oh, and markets are extremely nervous as the debt limit deadline is just three days away. Now, it’s getting serious.

Meanwhile in Washington, Republicans and Democrats have still not reached a final agreement.

Reid urges patience, remains optimistic over deal prospects

But top Senate leaders say they are optimistic.

Here’s what you need to know:
FULL POST


Filed under: Congress • Debt • Government Shutdown
October 14th, 2013
01:36 PM ET
1 year ago

Obama warns of default, blames Republicans

Washington (CNN) – Speaking at a local food pantry, President Barack Obama on Monday acknowledged the Senate has made "some progress" in a deal to reopen the government and raise the nation's debt ceiling.

But he was not entirely confident the deal would be reached before Thursday's deadline, when the Treasury Department says it will no longer be able to pay all of the government's bills.
FULL POST


Filed under: Congress • Debt • Government Shutdown • President Obama
October 14th, 2013
11:58 AM ET
1 year ago

Obama to meet with congressional leaders

(CNN) - President Barack Obama will meet on Monday at 3 p.m ET with congressional leaders, the White House announced as the partial government shutdown reaches the two-week mark and a U.S. default looms as soon as Thursday.

Manchin: Framework for a deal is under discussion


Filed under: Congress • Debt • Government Shutdown • President Obama
RNC puts shutdown heat on some key Democrats over veterans benefits
October 14th, 2013
08:39 AM ET
1 year ago

RNC puts shutdown heat on some key Democrats over veterans benefits

Washington (CNN) - The Republican National Committee is concentrating its government shutdown firepower against two of the top Democrats in Congress and three Senate Democrats who may face tough re-elections next year.

The RNC said Monday it's launching robocalls in the home states and districts of Senate Majority Leader Harry Reid of Nevada and Rep. Debbie Wasserman Schultz of Florida, chair of the rival Democratic National Committee, as well as Sens. Mark Begich of Alaska, Mary Landrieu of Louisiana and Kay Hagan of North Carolina.
FULL POST


Filed under: Congress • Debt • Government Shutdown • RNC • Veterans
McCain: Democrats should understand: ‘What goes around, comes around’
October 13th, 2013
02:16 PM ET
1 year ago

McCain: Democrats should understand: ‘What goes around, comes around’

Washington (CNN) – Sen. John McCain said Sunday that Democrats need to be careful in their talks with Republicans over the government shutdown and debt ceiling - because if they take advantage of the GOP, it may come back to bite them.

"The Democrats, they better understand something: What goes around, comes around. And if they try to humiliate Republicans, things change in American politics - and I know what it's like to be in the majority and in the minority - and it won't be forgotten. Now is the time to be magnanimous and sit down and get this thing done," McCain said on CBS’s “Face The Nation.”
FULL POST


Filed under: Charles Schumer • Congress • Debt • Government Shutdown • John McCain
October 13th, 2013
10:14 AM ET
1 year ago

Rand Paul: Obama is trying to ‘scare people’ on debt ceiling

Updated 2:32 p.m. ET, 10/13/2013

Washington (CNN) – President Barack Obama should not be using scare tactics as the government approaches a deadline to raise the federal debt ceiling, Sen. Rand Paul argued Sunday.

The Kentucky Republican said if Democrats end up insisting on increasing spending limits as part of a deal to raise the debt ceiling and end the government shutdown, then it will be considered a “nonstarter” by Senate Republicans.
FULL POST


Filed under: Debt • Government Shutdown • Rand Paul
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