Cave in 3….2……1
Via Bloomberg:
House Republicans will meet today in a weekend session to debate a proposal on avoiding a U.S. default, as a White House spokesman said “we’re not there yet” on a deal that could end the fiscal impasse.
Twelve days after a budget standoff led to a partial U.S. government shutdown, the contours were emerging of a potential agreement to extend U.S. borrowing authority to Nov. 22 from Oct. 17. The Republican plan includes some changes to Obama’s health-care law, structured in a way that could meet the political needs of each side to claim success.
President Barack Obama and House Speaker John Boehner spoke by telephone yesterday afternoon about Boehner’s offer, which the chamber’s Republican leaders will pitch to their members this morning.
“The president has a number of concerns” about Boehner’s proposal, White House press secretary Jay Carney told reporters yesterday after Boehner and Obama spoke. The president is concerned that extending the debt ceiling for a short period while budget talks occur would lead to a replay of the same brinkmanship the U.S. is experiencing, Carney said.