Senate Haggles Over Deal to Pull Back from Debt-Ceiling Brink
- Democrats consider GOP deal for short-term debt limit increase
- Temporary hike would add to high-stakes, year-end battles
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Democratic and Republican Senate leaders are haggling over a deal on a short-term increase in the debt ceiling that would pull the U.S. from the brink of a payment default.
After weeks of stalled talks, Democrats appear to be on the verge of accepting a proposal from Senate Republican leader Mitch McConnell to raise the debt limit by a specific amount that would be sufficient to tide the Treasury over until December, when Congress would have to vote again to avoid missing obligations such as federal salaries, benefits and Treasury securities.