Debt ceiling crisis: another day without resolution as the clock ticks
The political dance over the US debt ceiling crisis continued Sunday with the possibility that top lawmakers could be summoned to the White House, although no meeting had been scheduled.
Michael Bonfigli/The Christian Science Monitor
The political dance over the US debt ceiling crisis and federal deficits continued Sunday with the possibility that top lawmakers could be summoned to the White House for more negotiating – although no meeting had been scheduled.
Positions were clarified (or at least reiterated) on the morning TV talk shows as the clock kept ticking toward the Treasury Department’s August 2 deadline for raising the US debt limit in order to avoid Uncle Sam’s not being able to pay some bills.
The run-up to that Perils-of-Pauline moment is unlikely to include two very large discussion points: The grand plan for tackling the nation’s deficit and debt – a $4 trillion package over 10 years – once being seriously discussed by President Obama and House Speaker John Boehner. (Remember those halcyon days?) And the effort by some Republicans to leap-frog to a balanced budget amendment to the US Constitution. Not going to happen in the Democrat-controlled Senate.
Meanwhile, the political ground continues to shift as credit rating agencies, state governors, and independent voters weigh in on budgets, debt, and taxes.