WMFD TV

Search Archive WMFD.com News

www.wmfd.com - The ratings agency Fitch warns U.S. bonds may be downgraded in the near future, as lawmakers struggle to come up with a plan to raise the debt ceiling. }}" />

   
 
 
Lawmakers Work To Reach Deal As Debt Ceiling Deadline Looms

Story By: Larry Stine

 

 

 
 
 
  Email Story to Friend
   
  Original Published: 10/16/2013 The ratings agency Fitch warns U.S. bonds may be downgraded in the near future, as lawmakers struggle to come up with a plan to raise the debt ceiling. The federal government is expected to hit its limit on borrowing Thursday and Andrew Spencer reports lawmakers are still trying to work out the details of a potential deal. "We don't have a lot of time, and so what I'm suggesting to the Congressional leaders is let's not do any posturing, let's not try to save face," says President Barack Obama. President Obama hosts a closed-door meeting in the Oval Office, Wednesday, not with Congressional leaders, but with Vice Presidetn Joe Biden and Treasury Secretary Jack Lew. The U.S. Treasury has said it would run out of money to pay the nation's bills Thursday, essentially hitting its credit limit, the debt ceiling set by Congress. Senate leaders signaled they were close to an agreement to raise the debt ceiling and end the government shutdown, but they haven't reached one yet. Earlier Tuesday, a counterproposal from House Republicans was scrapped, as House Speaker John Boehner stuggled to come up with enough votes. Instead, some Republicans expect Boehner to expedite the Senate's plan. "He will have to essentially pass the bill that is negotiated between Senators McConnell and Reid, and I believe that the House would first pass it then send it to the Senate," says Republican Rep. Charlie Dent of Pennsylvania. Some Republicans argue raising the debt ceiling without budget cuts simply kicks the can down the road. In an interview with CNN affiliate, WABC, the president said the compromise will likely have bigger budget cuts than Democrats would prefer. "Because it makes it very difficult for us to invest in things like early childhood education. It makes it difficult for us to invest in rebuilding our roads and bridges, all the things that are necessary to actually build the economy and put people back to work," said President Obama.
   
  MORE RECENT NEWS
 
Image1 Thankgiving dinner is served at the Friendly House in Mansfield, with more than 500 guests expected to feast on turkey and all the trimmings. Full Story
Image1 A time-honored tradition was held at Aslhland Elks Lodge 1360 as the community was invited in for a free Thanksgiving Day luncheon. Full Story
 
Image1 A Lexington man died from injuries he received when he wrecked his van shortly before 6 p.m. Tuesday on Home Road, near Lexington-Springmill Road in Mansfield. Full Story
Image1 A Medina County man convicted of pandering child pornography has been sentenced to 28 years in prison. Full Story
  MORE NEWS
 

Man receives receives 28 years in prison for child porn

Helpful tips for consumers this holiday shopping season

Congressman Gibbs Speaks To Mansfield Noon Optimist Club

Meth Lab Found In Lucas Home, Two Arrested

Friendly House receives donation from Richland Bank

Marvin Memorial Library Seeks Levy

Cleveland Browns star safety coming to Ashland

Galion senior marching in Macy's Thanksgiving Day Parade

Post offices closed on Thanksgiving

Two Men Charged In Attempted Prison Drug Conveyance

Dowds Elementary Students Grocery Shop For Shelby Helpline

Sugargrove Tree Farm Owner Going To White House

Shelby School Board OK's Pay Hike For Substitute Teachers

Tornado Siren Testing Wednesday

More News