Reid/McConnell Announce Total GOP Cave On Shutdown, Debt Limit

Reid/McConnell Announce Total GOP Cave On Shutdown, Debt Limit – GOP Gets Nothing In Return

by Chuck Biscuits

Oct 16, 2013 Chuck Biscuits

Excerpted from The Washington Examiner: Top senators struck a deal Wednesday to reopen the government and extend the federal government's borrowing authority into next year and both sides of the Capitol are hoping for quick action to reassure nervous financial markets eyeing a Thursday deadline set by the Treasury Department.

"The compromise we reached will provide our economy with the stability it desperately needs," Senate Majority Leader Harry Reid said after he and his GOP counterpart, Sen. Mitch McConnell, struck the deal.

For Republicans, the deal was more about getting an embarrassing couple of weeks behind them than in being able to claim victory in a deal that they felt compelled to make.

"It's my hope that today we can put some of those most urgent issues behind us," Mr. McConnell said.

The agreement by Mr. Reid and Mr. McConnell signals the bill should clear the Senate, but it must also survive the House, where Republicans have the majority but leaders have shown little ability to control the floor. The legislation will likely require House Democrats to provide the majority of support.

The deal would reopen the government with a stopgap spending bill running to Jan. 15, and would extend the government's borrowing authority through at least Feb. 7. It would also require both the House and Senate to name negotiators to try to reach a final deal on a 2014 budget, giving them a December deadline.

The only major concession Republicans won was to include strict income monitoring of those seeking taxpayer subsidies under Obamacare. Keep reading

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Reid/McConnell Announce Total GOP Cave On Shutdown, Debt Limit – GOP Gets Nothing In Return
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