The Latest Efforts To Reopen The Government And Raise The Debt Ceiling
(AP Photo/Carolyn Kaster)
The U.S. Treasury Department says it will exhaust its emergency borrowing powers on Oct. 17. For the second time in two years, the government is nearing the point of default if Congress fails to raise the debt ceiling in time. The Fitch credit rating agency warned the U.S. could loose its AAA rating because of political brinkmanship. Yesterday, the House tried and failed to put forward a plan to temporarily fund the government and stave off default. Today, all eyes are on the Senate, where an aide to Senate Majority Leader Harry Reid said he was optimistic an agreement with Senate Republican Leader Mitch McConnell is within reach. Diane and her guests discuss the latest on the fiscal crisis and its consequences.
senior fellow, Brookings Institution and author, "Our Divided Political Heart: The Battle for the American Idea in an Age of Discontent."
economics reporter, The Wall Street Journal.
chief political correspondent, The Washington Examiner; author of "The Vast Left Wing Conspiracy: The Untold Story of the Democrats' Desperate Fight to Reclaim Power."