Wednesday, October 16, 2013

Varied reports on how close we are to a vote in both houses on a final debt ceiling deal

Early this morning, the headlines on both Washington Post and New York Times websites warned about the collapse of debt talks Tuesday, but didn’t report the progress on “new” talks between McConnell and Reid over night.
CNN now reports that a deal is again at hand, and it doesn’t seem very different from other proposals, story here
It’s unknown whether Ted Cruz will try to hold up a vote. It is thought that Boehner will finally break the Hastert Rule and allow it to be voted on in the House and pass without a majority of Republican support.
But some commentators say that there might not be a vote until the weekend, because supposedly some people, especially investors, have calculated that Treasury would make all payments until at least Tuesday Oct. 22 without a raise in the ceiling.
It appears that the deal extends the debt ceiling until Feb. 7. There is a minor tweak to Obamacare in verifying recipients seeking aid, and it is hoped that the president doesn't see this as "negotiation". 

The Washington Post tells me in tweets that it really is not possible to calculate the “drop dead” date on default reliably from public data on the Treasury website, because there are numerous other smaller bills that aren’t shown in major projections, as from the Bipartisan Policy Center. The newspapers are aware of the data on the site and have looked at it.   But it’s hard to see why Treasury doesn’t have precise numbers of what is due each day.

Update: 12:30 PM

The deal has been announced in the Senate and Senator Ted Cruz has said he will not try to hold up the vote. 

Once Tea Party congressman, when interviewed by Wolf Blitzer, when quizzed as to whether it was important to protect vulnerable Americans from the possible consequences of a default, answered nonsenically that Obamacare was a bigger threat than default.  Really? That "reasoning" scares me.  

Update: 10:30 PM.  Temporary re-open and debt ceiling extension passes

NFL scores:   Senate  81-18  (a blowout)
                     House  285-144    but without a GOP majority anti-Hastert. 

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