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 »