Tentative U.S. Senate to raise debt limit until February 15 - source

WASHINGTON Mon Oct 14, 2013 4:25pm EDT

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WASHINGTON (Reuters) - Democratic and Republican senators are working on a fiscal deal that would extend U.S. borrowing authority at least through mid-February and provide government funding until mid-January to end a two-week government shutdown, according to a source familiar with the negotiations.

The tentative framework, which is not finalized and could change, would also set up a new round of deficit-reduction negotiations that would try to strike a bargain by year's end.

The source, who asked not to be identified, said negotiators were still bargaining over whether the February 15 date for the debt limit extension would be a firm deadline or whether the Treasury Department would be allowed to use "extraordinary measures" to extend borrowing beyond that date, as it has done in the recent past.

(Reporting By Richard Cowan; editing by Christopher Wilson)

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Comments (3)
Here’s some deficit reduction ideas based on suggestions from the right:

- CUT SPENDING (on military by 50%)

- END WELFARE (to corporations via subsidies and tax breaks)

If Republicans are being genuine on cutting spending and reducing the “entitlement state”, they ought to love that. Those two things alone could eliminate the deficit.

And to make Democrats happy:

- Raise taxes on the top 5% of income earners by 5%

- Raise import tariffs on American companies importing manufactured goods from overseas

Pretty simple. Negotiate on THAT.

Oct 14, 2013 5:36pm EDT  --  Report as abuse
SaveRMiddle wrote:
So this short extension represents AMERICA WILL NOT BE HELD HOSTAGE and a “Clean” CR.

Nice work, Obama. Three more years of this facade of Leadership.

Oct 14, 2013 8:54pm EDT  --  Report as abuse
Bakhtin wrote:
This should be rejected. What is the point of making an appointment to have another Republican-manufactured crisis in February?

Fix the problem now.

Oct 14, 2013 10:46pm EDT  --  Report as abuse
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