Leaders agree on a compromise to carry through December 3.
On Thursday, Senate Majority Leader Chuck Schumer announced an agreement had been reached with Minority Leader Mitch McConnell for a short-term extension on the national debt ceiling. The increase will last through December 3, the same day the continuing resolution on the federal budget will expire. If a solution were not passed, the United States would be in default as of October 18.
Senator Schumer expressed his hope of bringing the measure to a vote, saying, “It’s our hope that we can get this done as soon as today.” Senator McConnell stated that the agreement “will spare the American people any near term crisis” and that this gives the majority enough time to pass a long-term increase via reconciliation.
As the Lord Leads, Pray with Us…
- For the leaders in the Senate as they work together on the national debt increase.
- For members of Congress as the president’s spending bills are considered.
- For the president to seek God’s wisdom on the federal budget and allocations.
- For Treasury Secretary Yellen as she advises Congress and the president of the nation’s fiscal status.
Sources: NY Times, Fox News
