–Congressional Republican Leaders Signal Debt-Hike Breakthrough Near
–House Speaker Boehner: ‘Confident’ Debt Ceiling Impasse Will End Soon
–Rep. Boehner: GOP In Direct, Intense Talks With Obama on Debt Hike
–Sen. McConnell: White House Now ‘Fully Engaged’ On Debt Hike Deal
–President Obama Meeting With Sen. Reid, Rep. Pelosi
By John Shaw
WASHINGTON (MNI) – In what appears to be a significant breakthrough,
House Speaker John Boehner and Senate Minority Leader Mitch McConnell
Saturday afternoon said that they are in direct and intense talks with
President Obama on the debt ceiling impasse and believe an agreement can
reached.
At a briefing outside of Boehner’s office, the Speaker said he is
“confident” an agreement can be reached with Obama and legislation
passed by Congress to avoid a default.
He did not indicate what the terms of the agreement are likely to
be.
McConnell also said he is “confident and optimistic” an agreement
is within reach.
He said he has been in contact with both Obama and Vice President
Biden, adding that the highest levels of the administration are “fully
engaged” in solving the debt ceiling impasse.
“We’re going to get a result,” McConnell said.
“Our country is not going to default,” he added.
Obama has been meeting this afternoon with Senate Majority Leader
Harry Reid and House Minority Leader Nancy Pelosi to review the
legislative impasse on the debt ceiling.
The House voted Saturday to reject the debt ceiling package
assembled by Reid on a 246 to 173 vote.
The Senate voted Friday 59 to 41 to reject Boehner’s debt hike
plan.
The U.S. has already reached its $14.29 trillion debt ceiling.
Treasury Secretary Tim Geithner has said that Congress must pass
legislation increasing the debt ceiling by August 2, this coming
Tuesday.
** Market News International Washington Bureau: (202) 371-2121 **
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