Deal to resolve fiscal crisis stalls in congress

U.S. President Barack Obama speaks about the continuing government shutdown during a news conference from the White House Briefing Room in Washington. Credit: Reuters
U.S. President Barack Obama speaks about the continuing government shutdown during a news conference from the White House Briefing Room in Washington.
Credit: Reuters

Hopes for a resolution of Washington’s fiscal crisis in the next day or two faded on Capitol Hill on Saturday, as President Barack Obama’s efforts to reach a deal with Republicans in the House of Representatives sputtered.

The focus has now shifted to Senate Republicans’ ideas for reopening the government and raising the government’s borrowing authority, which runs out on October 17.

“I guess they’re (the White House) talking to the Senate now,” a dejected House Appropriations Committee Chairman Harold Rogers, a Republican, told Reuters.

“There is no deal; no negotiations going on,” House Speaker John Boehner told a meeting of House Republicans, according to Representative Richard Hudson.

The White House had expressed deep reservations with Boehner’s plan for a debt ceiling increase that would have extended only to November 22 and other demands that would have required a series of negotiations to continue under the threat of default and government shutdown.

Meanwhile, there appeared to be growing interest in a plan written by Republican Senator Susan Collins that would fund government operations for another six months at their current level and extend Treasury Department borrowing authority through January 31.

Without action by Congress, the United States could be in default by Thursday, when the Treasury warns its borrowing authority would basically be exhausted.

Many House members were heading to their home districts, having been informed that there would be no votes later on Saturday, Sunday or before Monday evening.

The complication has deflated some of the optimism about a quick agreement coming as early as this weekend.

“I was optimistic yesterday morning,” David French, the chief lobbyist for the National Retail Federation, told Reuters on Saturday. “I’m a little less optimistic today and so are folks I’ve talked to” on Capitol Hill.

Companies and trade associations have been stepping up their efforts on Capitol Hill as the debt ceiling deadline approaches.

Retailers are particularly concerned about going into a holiday season with debt ceiling jitters hanging over the economy.

Beyond that, French said: “They’re concerned about Washington. They’re concerned about the level of dysfunction. Our members do not like lurching from crisis to crisis without hope of a resolution.”



News
Entertainment
Sports
Lifestyle
Local

Apple says its systems not to blame for…

By Edwin Chan and Christina FarrSAN FRANCISCO (Reuters) - The week before a crucial launch of its new iPhone, Apple Inc said intimate photos of…

Local

Tallest residential building planned for lower Manhattan

A residential tower planned for lower Manhattan will soar 1,356 feet in the air -- just 12 feet shy of 1 World Trade Center. When…

Local

Bronx man commits suicide by decapitation

A Bronx man committed suicide Monday morning in the Hunts Point area of the Bronx by decapitating himself. According to the NYPD, the 51-year-old man…

Local

Top cops enroll in Twitter course at John…

NYPD officers are reportedly getting a lesson on the best way to use 140 characters or less. The New York Post reported Tuesday top officers…

Arts

Pop culture and prostitutes: New Toulouse-Lautrec exhibit at…

Henri Toulouse-Lautrec documented the cult of celebrity and the rise of pop entertainment in his prints, posters and lithographs — now on display at MoMA.

Arts

PHOTO: Extreme artist Eskil Ronningsbakken balances unicycle on…

Extreme artist’ Eskil Ronningsbakken balances on the edge of a cliff face at 4,600 feet – on a unicycle. The Norwegian travels across the globe, balancing over vertiginous ravines, tall…

Music

Hear two previously unreleased Adele songs

Missing some Adele in your life? Two previously unreleased songs from the singer have appeared online.

Music

Lincoln Center just made 'Lord of the Rings'…

Middle Earth already has sweeping vistas, a hero's journey and technology-revolutionizing special effects. But next April, the Lincoln Center will add another dimension to Peter Jackson's…

NFL

10 storylines to watch for the Giants this…

The Giants rebounded from an embarrassing 0-6 start last season, but not well enough to make the playoffs.

NFL

Michael Vick set to be weekly guest with…

Mike Francesa may need to backtrack from his harsh commentary of Michael Vick now that the Jets backup quarterback will be a weekly guest on his show.

NFL

Jets expect to make playoffs after sitting on…

The same pundits who predicted the Jets would be woeful a season ago are now eying the playoffs for this revamped team.

NFL

Antonio Allen returns to practice after concussion

Antonio Allen was cleared to practice again following his concussion two weeks ago.

Parenting

In defense of making a mess during playtime

"Recipes for Play" authors Rachel Sumner and Ruth Mitchener think playtime should involve the five senses and making a mess is part of the fun.

Wellbeing

Jason Hope helps push anti-aging efforts forward

Reporter was commissioned to write this in-depth article When it comes to age-related illness, the direction of modern medicine seems more reactive than proactive. In…

Wellbeing

Today's Doomsday preppers: a closer look at survivalist…

Reporter was commissioned to write this in-depth article. The term “Doomsday prepper” is often associated with the paranoid, anti-government stereotype of the 1990s. The truth…

Education

These college students think breakfast is the most…

  It should be no surprise that the city that never sleeps is also home to the most students who like to order food in…