The Senate will forgo its scheduled recess for the week of July 4 to work on cutting the deficit, Sen. Harry Reid said Thursday.
Both parties are trying to strike a deal on raising the federal government’s current $14.3 trillion debt ceiling by the start of August.
President Barack Obama has urged leaders of both parties to negotiate in good faith to reach a deal.
“This is urgent,” he said Wednesday.
Top economic analysts have warned of potentially catastrophic repercussions if the ceiling is not raised by August 2, including skyrocketing interest rates and a plummeting U.S. dollar.
(Source: CNN)
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2 Responses
Great! This just means they’ll be paid overtime. 🙂
wow the government actually realizes the US is in trouble, it must be worse then they are saying if the gave up a weeks vacation