Report: No Sign of Deal Making Mood
Things remain frozen in the congressional wrestling match over whose plan will win the debt debate.
Congress now has just a week left to find away around the debt ceiling crisis or face default, but there are still no signs of a compromise between the main negotiators, the House GOP and the Senate Democrats.
The House is still reworking its Budget Control Act, after the Congressional Budget Office said it only cuts $850 billion, not $1.2 trillion. A House vote isplanned for Thursday, but with no sign of the reworked language as of Wednesday morning, that vote has the potential to be pushed to Friday.
What would make congress so comfortable taking so long when the August 2 date looms?
Another question that is emerging is whether August 2 is really the deadline. Various private estimates say the government could run for another few weeks before the money begins to run out, which would either cause a "cash flow management" issue or an emergency budget triage situation, depending on whom you ask.
Aha. We've always suspected that the 8/2 date was a fabrication.