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Day 8 of Government Shutdown: Little Progress Over Weekend

As we entered day 8 of the Government Shutdown, there was little progress over the weekend and now attention is turning toward the next looming deadline.
As we entered day 8 of the Government Shutdown, there was little progress over the weekend and now attention is turning toward the next looming deadline.
October 17, the US will officially reach it's $16.699 trillion cap on borrowing.

The shutdown enters it's second week and it sure sound like the stalemate is sticking around.  Speaker Boehner insisted there are not the votes in the house to pass a clean spending bill.  A dare for the speaker directly from the President's mouth, "They should prove it.  Let the bill go to the floor and let's see what happens."

The President visited FEMA, one of many agencies affected by this prolonged shutdown and he says there is a bipartisan majority in the House to pass a clean spending bill without any attachments to healthcare.

"My very strong suspicion is there are enough votes here, and the reason Speaker Boehner, he doesn't apparently want to see the Government end the shutdown."

The bigger concern now, the riskier economic deadline just ahead.  In 10 days the nation will reach it's cap on borrowing.  Economists warn that a failure to raise the debt ceiling will result in:
Social Security payments, IRS refunds, Medicare reimbursements, and Veterans benefits being threatened.  Higher interest rates, a slowdown in purchases of houses, cars, and anything else that requires a loan.

The speaker says on this issue too the Republicans are united.  They won't agree to raise the borrowing limit unless the White House agrees to some spending cuts with no new taxes.

"It is time to have that conversation before our economy is put further at risk."

The growing feeling now on Capitol Hill: Settle into this partial shutdown, it may stick around until Congress works out the bigger deal on debt.
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