Debt ceiling deadline looms, while no compromise in sight over slimdown
The debt ceiling will make this shutdown fight seem like child’s play.
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The government slimdown enters its second week with Democrats and Republicans continuing to blame each other with no compromise in sight, as a second major budget deadline looms larger and closer.
Despite Treasury Secretary Jack Lew warning again Sunday about the potential “catastrophic” impact of Congress allowing the government to default on its debt on Oct. 17, Republican leaders made clear the House won’t agree on any deal to increase the county’s borrowing authority without concessions from President Obama.
Lew told “Fox News Sunday” such a strategy was “irresponsible” and “reckless.”
“Which is why Congress needs to act,” said Lew, calling on members to pass a temporary spending bill to reopen the government and pass a measure to increasing the nation’s $16.7 trillion debt limit.