"Facing an imminent deadline to raise the debt ceiling and avert throwing the nation into an unprecedented default, leaders of the opposing parties appeared to spend more time blasting each other yesterday than on working toward a deal, until late-night negotiations at the White House finally opened up the prospect of a bipartisan compromise.
Senate majority leader Harry Reid, hoarse and wan after a tumultuous week, took the floor in the Senate shortly after 10 p.m. to make the dramatic announcement that he was delaying a vote on a measure he had been pressing - and which Republicans had attacked - to allow time for the White House push to bear fruit.
He offered few hints of the shape of the unfolding deal, except to say he was confident it would raise the debt limit sufficiently to avoid revisiting this sort of stalemate before the 2012 elections. “There is still a distance to go before any arrangement can be completed,’’ he said.
US Treasury officials have said the country will not have enough money after Tuesday to pay all of its bills, including Social Security and veterans’ benefits"...........READ MORE
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