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.
During a press conference Wednesday, President Barack Obama reminded Congress, and the country, that it was time to “seize this moment” and to “seize it soon.” This spring, the Treasury Department warned that if Congress does not raise the debt ceiling by August 2nd, the United States could default