The Enid News and Eagle, Enid, OK

Featured Story

October 10, 2013

Hope? Boehner offers a short-term debt extension

WASHINGTON — Urgent efforts to prevent an economy-tanking national default rose and then retreated with astonishing swiftness on Thursday, as House Republicans softened their long-standing demands and the White House appeared agreeable to a compromise, only for Senate Democrats to declare it unacceptable.

"Not going to happen," declared Majority Leader Harry Reid, standing outside the White House after he and fellow Democrats met with President Barack Obama. Reid referred to a Republican plan to leave the 10-day partial government shutdown in place while raising the nation's $16.7 trillion debt limit and triggering negotiations between the GOP and Obama over spending cuts and other issues.

Heartened by any hint of progress, Wall Street chose to accentuate the positive. After days of decline, the Dow Jones industrial average soared 323 points on hopes that the divided government was taking steps to avoid a default. Reid's dismissive comments at the White House came at the end of the trading day.

And despite Reid's comments, some Republicans said they might look to him to add a provision reopening the government to any debt-limit increase the House passed.

The up-and-down day coincided with a dour warning from Treasury Secretary Jack Lew, who told lawmakers that the prospect of default had already caused interest rates to rise — and that worse lay ahead.

Appearing before the Senate Finance Committee, Lew said the Treasury must pay Social Security and veterans benefits as well as salaries to active duty military troops during the second half of this month. He said failure to raise the debt limit by Oct. 17 "could put timely payment of all of these at risk."

House Speaker John Boehner led a delegation of fellow Republicans to the White House for a late-afternoon meeting with Obama as the two sides groped for a way out of the latest in a string of crises.

Text Only
Featured Story
Featured Ads
AP Video
Bon Jovi Helps Open Low-income Housing in Philly Pipeline Opponents Protest on National Mall Hagel Gets Preview of New High-tech Projects S.C. Man Apologizes for Naked Walk in Wal-Mart New Country Music Hall of Fame Inductees Named 'Piles' of Bodies in South Sudan Slaughter New Yorkers Celebrate Cherry Blossom Blooms SCOTUS Hears Tv-over-Internet Case Justice Dept. Broadening Criteria for Clemency Chief Mate: Crew Told to Escape After Passengers 'Miss Meadows' Takes Holmes Back to Her Roots Biden: Russia Must Stop Talking, Start Acting David Moyes Out As Manchester United Manager Raw: Leopard Bites Man in India Iowa College Finds Beauty in Bulldogs High Court to Hear Dispute of TV Over Internet Stowaway Teen Forces Review of Airport Security
NDN Video
Viral: It's Not Pitbull - It's Amy Poehler! Raw: Leopard Bites Man in India Jenna Dewan-Tatum Strips Down Rise of the Milkbots TRENDING: Brian Williams Raps 'Gin and Juice' on ‘Tonight Show’ Middle School heroes rescue students from burning bus WHOPPER OF FISHING STORY: Florida man catches massive Mako shark Maks Chmerkovskiy's "DWTS" Meltdown The many faces of Mike Woodson Ape Builds A Fire And Toasts Marshmallows In Amazing BBC Video Manchester Utd sack manager David Moyes "RHOA's" Dramatic Brawl High school, College Drug Ring Busted In Montgomery County High Court to Hear Dispute of TV Over Internet Raw: Keflezighi, Jeptoo Win Boston Marathon Teen hitchhikes in wheel well of flight from California to Hawaii Lindsay Lohan's Jaw-Dropping Secret President Sends Message To Boston And Marathon Runners LA Pastor Attracts Churchgoers with Pot Lauren Stoner Shows Off Her Incredible Bikini Body
House Ads
Facebook