Page 3 - Debt Ceilinging News Today : Breaking News, Live Updates & Top Stories | Vimarsana

There you see the white house press briefing room. we're told jay carney, the white house press secretary will walk through that door, go up to the podium and start taking reporters' questions. we'll get the white house reaction to what's going on on capitol hill. these are critical hours right now. we're only what, 35 hours or so away from this treasury department debt ceiling deadline. they want to make sure that the debt ceilinging is raised within the next 35 hours. here's jay carney getting ready. let's see if he makes a statement, answers reporters' questions. >> you bet. good afternoon,...

Said during that briefing the i'm for unsent has passed. basically, what the white house is signaling at had point and something that harry reid said on the senate floor earlier today is that we may be in sort of this danger zone, this red zone now. we've gotten too close to the debt ceilinging to avoid any kind of ramifications in the short term, a credit downgrade, what have you. it was curious to note jay carney using that sort of language. he was kicking everything over to the treasury department in terms of prioritizationsization. jay would only say prioritizationsization, picking and cho...

Congress. the economy is already paying a price as outside analysts have noted. there is already a cost to the economy, and therefore, to growth and jobs from this behavior. and it's important, as i think so many americans believe, that it stop, that congress simply fulfill its basic responsibilities to open the government, to fund it at again, levels that were set by republicans so that we can get about the business of negotiating in good faith over longer term budget proposals. i'm not going to. >> but there are provisions on -- you are talking about the short-term increase in the debt ceili...

Going to happen when the deal moves to the house. >> chief congressional correspondent dana bash, we're finally seeing senators it looks like, it appears as though they are making some sort of progress in the stalemate. if you look at it in a certain way, that's good news, quote unquote. there's still many sticking points and it needs whatever agreement comes out of this to go back to the house. >> that's exactly right. let's start with where i'm told the key discussions are right now, which is they are between the democratic leader in the senate, harry reid and the republican leader mitch mcc...

Worried. the imf downgraded global economic growth. it's only just returned to the eurozone, emerging markets are being clobbered at the threat of u.s. tapering by the fed. so whichever way you turn, the last thing anyone needs, including incidentally, the u.s. economy with its 1.8% growth in sequester is another shoe to fall in the form of this. >> and richard, you just spent a few days in washington talking to economic leaders around the world. when they look at the u.s., the system here, do they say why do you have a debt ceilinging to begin with? the americans argue it's in the constitutio...