Senate leaders from both parties are discussing backup options to avert a U.S. default by adding spending controls to a plan that would grant President Barack Obama unilateral power to raise the debt limit.
Obama told lawmakers they have until tomorrow to decide whether they can reach a deal to make significant cuts in the deficit or settle for another way to raise the $14.3 trillion debt ceiling before U.S. borrowing authority expires Aug. 2, two Democratic officials said.
The president and bipartisan congressional leaders met today at the White House after yesterday's negotiations ended on a tense note and Moody's Investors Service warned that the stalemate could jeopardize the nation's credit rating.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
