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(Image source: DAVID ILIFF: License: CC-BY-SA 3.0)
BY CHRISTINA HARTMAN
Lawmakers have even less time to fight two major budget battles.
Treasury Secretary Jack Lew now says the debt limit deadline is October 17th. (Via U.S.
Treasury Department)
Right now the federal debt limit is $16.7 trillion.
And without more ability to borrow, says Lew, the federal government can't pay its bills.
But again, there are TWO budget battles — and the one looming even closer than that is the
new fiscal year.
Despite Republican Senator Ted Cruz's marathon more than 21-hour protest speech — a unanimous
vote in the Senate cleared the way for consideration of a temporary funding bill. (Via C-SPAN)
There are five days between the House and the Senate before some federal agencies have
to close their doors if a compromise isn't reached. Expect this one to come down to the
wire.
In the GOP-controlled House, The Washington Post is reporting a new plan would drop an
attempt to attach defunding President Obama's health care law to a funding bill — and
shift the same fight slightly further down the line to the debt limit battle. (Via The
Washington Post)
To which the White House has already said:
"There is no negotiating over Congress's responsibility to assure we don't default." (Via CNN)
Under that scenario, a government shutdown would be temporarily averted, but Republicans
wouldn't yet have to completely give up their fight against Obamacare, which starts open
enrollment October 1st.