After months of bickering, posturing and name calling, Congress reached a debt deal. Legislators used every inch of room before hitting Tuesday’s debt-ceiling deadline. The deal passed the House and is expected to pass the Senate Tuesday. Still, nobody appeared to jump for joy.
The weekend brought a little relief temperature-wise but in Washington, a different pressure system remained in place: The debt ceiling has not budged. The U.S. Treasury Department warned of a possible federal default if Congress fails to reach agreement by Aug.
President Obama and congressional leaders met Tuesday in hopes of reaching a bipartisan agreement on the debt limit. This marks the group’s third meeting in as many days; there’s been little movement along party lines.