debt ceiling

Ted “Mr. Popularity” Cruz’s best efforts notwithstanding, the United States will not dabble in first-time debt-defaulting until next year, at the earliest. Read more »

Maybe John Boehner does have the votes for a clean debt-ceiling bill—at least one that could give a whole new meaning to the term “Black Friday.”

House Republicans, looking for a way out of a budget standoff they began, will offer to President Obama at a White House meeting Thursday a plan to increase the debt limit through Nov. 22, in exchange for a promise to negotiate a deal for long-term deficit reduction and a tax overhaul.

The debt ceiling increase could come to a vote as soon as Friday, but House Republicans did not intend to reopen the government, hoping that the shuttering of federal programs would keep the pressure on Democrats to compromise….

The White House press secretary, Jay Carney, declined to say whether Mr. Obama would sign a short-term debt limit increase, as the president suggested he would earlier this week. “We’ll see what the House Republicans propose, we’ll see what they’re able to pass,” Mr. Carney said.

So, in all likelihood: Hooray! No history-making default this month! And just in time, because some people were starting to get nervous, not that you could tell that a potential economic Armageddon was on the horizon from looking at the markets. Read more »

[via @CGasparino]

Fitch Ratings is showing the U.S. some tough love. Read more »

S&P has made it so enticing to get involved in U.S. debt politics that the other agencies are jumping on the bandwagon. And Washington can’t win: while S&P continues to talk a big game about downgrading the U.S. for not cutting enough spending, Fitch is pinning its ratings outlook to GDP growth, which some economists will tell you is not going to come by cutting government spending in a recession.
Read more »

President Barack Obama will sign into law a bill raising the U.S. government’s debt ceiling and cutting spending as soon as it arrives at his desk, White House communications director Dan Pfeiffer said on Tuesday. The U.S. Senate passed the bill to avert a default earlier on Tuesday and sent it to Obama for signing. Pfeiffer said via Twitter the president would sign the bill as soon as it got to the White House. There will not be a public signing ceremony. [Reuters]

Rep. Emmanuel Cleaver [Twitter]

Also: @Satan Sandwich

When Donald Trump chose not to run for President, the American people lost a lot. They lost the opportunity to hear the Don tell China, “Listen you motherfuckers, we’re going to tax you at 25 percent.” They lost the opportunity to watch a presidential candidate tell Bill Cosby to blow him. And most of all, the lost the opportunity to behold as bankruptcy specialist Donald Trump used his expertise to lead us out of the economic darkness and into the light. Though he remained silent on the debt talks for far too long, last week Trump finally weighed in on the debate (“The Republicans should tap it along, make it go longer, until the next election so Obama can’t win”) and today on Squawk Box, he continued. Read more »