Shutdown: Is the End in Sight?
With the October 17 national debt ceiling deadline looming, it’s clear that Republicans, Democrats, and the President are all feeling additional pressure to secure an increase and prevent the U.S. defaulting on their loans. Both sides have made concessions towards opening up the debate.
President Obama has met with the GOP despite earlier refusals to meet until the spending bill was signed and shutdown ended. Additionally, Republican concessions can be seen in the far less demanding proposals coming up recently. Though it may seem that an end is in sight where the shutdown, spending bill, and debt ceiling are concerned — beware — it may be a mirage.
According to The Wall Street Journal, House Republicans presented a proposal that would extend the United State’s borrowing capabilities for a period of six weeks on the condition that Obama agrees to negotiate on deficit reduction. This would be about the equivalent of covering the issue with saran wrap and sticking it in the fridge for a later date, and the President has made it clear that he’s looking for a longer-term solution.