Former Montana Gov. Brian Schweitzer explains why he opposes settling for a six-week temporary deal on the debt ceiling.
Washington (CNN) – House Republicans have made an offer to the President to resolve the budget standoff, GOP sources tell CNN.
The plan falls short of the President's demand to immediately reopen the government, but the GOP proposal would temporarily raise the debt ceiling.
Washington (CNN) - They went around and around for an hour, getting nowhere.
Then, suddenly, a change that could help break the logjam that's resulted in a partial government shutdown and the looming threat of a further crisis when the nation bumps up against its self-imposed borrowing limit.
According to multiple sources familiar with the meeting, the President and House Republicans had been going around and around for about an hour with no resolution on a path forward. Republicans emphasizing, over and over, what the House Speaker laid out: pass a six-week debt ceiling extension, then sit down immediately and start negotiating. The negotiations would begin with discussions to fund and re-open the government. The president kept pressing Republicans to re-open the government right away.
Washington (CNN) – House Republican leaders said Thursday they will propose a temporary increase in the nation's borrowing limit - a first step toward a potential compromise to end the political stalemate that has shut down parts of the government and threatens a U.S. default as soon as next week.
After meeting with his caucus, House Speaker John Boehner said Republicans want substantive talks with President Barack Obama and Democrats on reducing the nation's chronic federal deficits and debt in return for removing the immediate threat of default.
Washington (CNN) – President Barack Obama would sign a short term debt ceiling increase as long as the measure contains no conservative-backed provisions, a White House official said late Wednesday.
The official was speaking after a meeting between House Democrats and the president at the White House. A Democratic lawmaker present for the session said Obama signaled more "give" to the idea of a six-week increase of the nation’s borrowing limit.
New York (CNNMoney) – There's still a lot of confusion about what October 17 represents when it comes to the debt ceiling and the risk of a U.S. default.
First, make no mistake. Congress should have raised the debt ceiling weeks if not months ago.
Washington (CNN) – A Senior House GOP source concedes to CNN that to get the White House on board with a debt ceiling deal, House Republicans would likely have to agree to a clean short term debt ceiling increase. In exchange, Republicans would need to get clear and specific parameters from the White House for discussions and negotiations on ways to reduce the debt and deficit.
This source believes that at the end of the day, enough people in the GOP caucus could be OK with this because the economic implication of breaching the debt limit "scares people." This source also acknowledged that under this scenario, House GOP leaders may have to agree to pass a debt ceiling bill without all Republicans on board, and with Democratic support.
(CNN) - Sen. Tom Coburn continued to stress Wednesday that major spending cuts must take place before Congress agrees to raise the government's debt limit, which he also argued doesn't even exist.
"The debt ceiling has never not been raised, so there is no debt ceiling. And by having a debt ceiling and then raising it every time, it allows the politicians off the hook for making the hard choices," the Oklahoma Republican said on CNN's "New Day."
Washington (CNN) - End the government shutdown and raise the debt ceiling - even for a short period - and I'll negotiate, President Barack Obama said Tuesday in providing a potential opening to end a political stalemate that has partially shut down the government and threatens a first-ever U.S. default next week.
"If there's a way to solve this, it has to include reopening the government and saying America's not going to default and we're going to pay our bills," he said in a White House news conference on the eighth day of the partial shutdown and nine days before the deadline to increase the federal borrowing limit or face default.