After helping negotiate a bipartisan deal to end the partial federal government shutdown, and extend the debt limit, U.S. Sen. Dick Durbin (D-IL) said he hopes House Republicans learned a lesson: “this is unacceptable.”
With one month to go before we reach the fiscal cliff, Republicans are going to have to figure out how to do something serious for a change instead of grandstanding and avoiding specifics.
Speaker John Boehner believes he holds a strong hand in fiscal cliff and debt limit talks. He is, once again, taking the global economy hostage and playing politics with the U.S. debt limit.
If there’s no agreement on the federal debt ceiling by Tuesday, it could mean trouble for anyone who gets money from the government, including Social Security recipients, veterans and the millions of students who depend on federally-backed student loans.
Congress and President Barack Obama have three weeks before the nation’s debt limit must be raised, lest the country start to default on its obligations.
The U.S. Treasurer says the United States could default on its loans if congress doesn’t act soon to raise the country’s debt limit, and both Illinois U.S. senators are weighing in on the issue.