President Barack Obama and Republican leaders appeared ready to end a political crisis that has shuttered much of the U.S. government and pushed the country dangerously close to default after meeting at the White House on Thursday.
No deal emerged from the 90-minute meeting, but talks continued into the night in an effort to re-open the government and extend the government's borrowing authority beyond an October 17 deadline. One senior Republican said an agreement could come on Friday, though hurdles remain.
Republicans in the meeting offered to extend the government's borrowing authority for several weeks, temporarily putting off a default that otherwise could come as soon as next week. Obama pushed to also reopen government operations that have been closed since October 1.
Significantly, Republicans seemed to be steering clear of the restrictions on Obama's healthcare reforms and spending that prompted the crisis in the first place. Instead, negotiations centered on how far to extend the debt limit and how much funding they would provide the government when it opens, according to Republicans.
Source: Reuters
