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November 29, 2021

Obama, lawmakers to resume debt talks

WASHINGTON – President Barack Obama and congressional leaders will continue to negotiate a possible deficit reduction deal this week to clear the way for congressional Republicans to back an increase in the federal debt ceiling, CNN reports.

While discussions continued over the weekend after the last full negotiating session Thursday, no significant progress has occurred and the chances for a comprehensive deficit deal sought by Obama in coming weeks appear remote.

Without a major deal, Congress would have to focus instead on a smaller agreement to raise the debt ceiling or face the unprecedented situation in 15 days of the government not having enough money to pay all its bills. The debt ceiling has reached its $14.3 trillion legally permitted maximum.

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