Congressional leaders optimistic about fiscal deal
As the threat of a default looms in the United States it looks like Senate leaders are finally closing in on a deal that could avert it at the eleventh hour.
"I'm very optimistic that we will reach an agreement that's reasonable in nature this week."
The leader of the Republican side also shared the optimism that the partial government shutdown would end soon.
"Let me just echo the remarks of the majority leader that we had an opportunity over the last couple of days to have some very constructive exchanges of views about how to move forward. I share his optimism that we are going to get a result that will be acceptable to both sides."
Under the temporary plan being discussed a source familiar with the negotiations says the debt ceiling of 16.7 trillion dollars would be raised to cover the nation's borrowing needs at least through mid-February of next year.
That money would also fund government operations through mid-January and the mass spending cuts that took effect last March would be kept in place.
"My hope is that a spirit of cooperation will move us forward"
President Obama's hopes will need to be fulfilled at least by Thursday, October 17th - the day the federal government is forecast to run out of borrowing capacity.
A meeting at the White House could soon happen as the original meeting time of Monday afternoon, was postponed to give the leaders more time to work out a deal.
Once a deal is reached it will require the approval in the House of Representatives, where Republicans are fighting to include measures that would undercut the President's healthcare law --- something the Democrats are unwilling to sacrifice.
Connie Lee, Arirang News.
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