Pelosi and Mnuchin race the clock as the US runs out of money
CNNCNN — House Speaker Nancy Pelosi said late Tuesday that she’s seeing “progress” in her twin budget and debt negotiations with Treasury Secretary Steven Mnuchin. According to multiple people involved or briefed on the discussions, the talks between Pelosi and Mnuchin on a budget and debt deal have been productive and are approaching a point where it’s time to either cut a deal or find an off-ramp that will get the government through a potential cash crunch and prevent another shutdown. As one GOP senator said Monday: “We could probably get this done in a half-hour if we had the freedom to do so.” Mnuchin says he wants a comprehensive deal, but if one isn’t reached, has requested a so-called “clean” bill to raise the debt ceiling for as long as possible, allowing the government to begin borrowing and keep things running while a budget agreement is hashed out. Democrats late last week floated a one month extension of the debt limit, according to people involved with the talks which – and this is important – did not backfill the Treasury’s ability to utilize “extraordinary measures” to keep the US government afloat.
History of this topic
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