But don’t worry, it’s still the evil “extremist” House Republicans who are holding the country hostage.
WASHINGTON (AP) — In an unforgiving display of partisanship, the House approved emergency legislation Friday night to avoid an unprecedented government default and the Senate scuttled it less than two hours later.
The final outcome — with the White House and Senate Democrats calling anew for compromise while criticizing Republicans as Tuesday’s deadline drew near — was anything but certain.
“We are almost out of time” for a compromise, warned President Barack Obama as U.S. financial markets trembled at the prospect of economic chaos next week. On Wall Street, the Dow Jones industrial average was down for a sixth straight session.
The House vote was 218-210, almost entirely along party lines, on a Republican-drafted bill to provide a quick $900 billion increase in U.S. borrowing authority — essential to allow the government to continue paying all its bills — along with $917 billion in cuts from federal spending.
