Debt limit deadline approaching on day 10 of gov. shutdown

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October 10, 2013, 4:45 pm
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(NECN/NBC News: Steve Handelsman) - In Washington, on day 10 of the government shutdown and a week until government could default on our debt, there is finally an encouraging sign.

House Speaker John Boehner promised to hike the nation's borrowing limit temporally if President Obama will bargain on the budget and the White House agreed.

The Boehner proposal would put off default next Thursday by raising the borrowing limit for six weeks if President Obama agrees to negotiations.

Boehner said, "And I would hope that the president would look at this as an opportunity and a good faith effort on our part to move half way, halfway to what he's demanded, in order to have these conversations begin."

"Halfway," because Tea Party Republicans point out the government shutdown continues over healthcare.

Rep. Raul Labrador said, "When it comes to the issues dealing with ‘Obamacare’ we're gonna continue to hold our ground."

If the Tea Party does not block the Boehner deal on the debt ceiling, President Obama, who wants a long term deal, would sign it

White House Press Secretary Jay Carney said it’s because Obama thinks we need to avoid default.

Default could drive down home sales.

Keller Williams Capital Properties’ Suzanne DesMarias said, "I worry about people changing their minds."

She said, "If they’re nervous if they don’t have the stability in their jobs they’re not going to go forward and purchase a home."

When Treasury Secretary Jack Lew warned about default, a republican mocked him.

Lew said, "There is no way of knowing the irrevocable damage such an approach would have on our economy and financial markets."

Rep. Michael Enzi said, "The sky is falling and the earth will erupt. Wyoming families aren’t buying these arguments. They’re saying you can’t spend more than you take in."

But, with seven days until default, a deal looks possible.

Tags: Obama, White House, congress, government , Democrats, John Boehner, Republicans, shutdown, Steve Handelsman
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