Minority Leader Mitch McConnell offered Democrats a deal to avert default for a couple of months.
Democrats and Republicans in the Senate reached a deal to through early December, avoiding what could have been an economic disaster in less than two weeks as the clock ticked down on the U.S. being able to pay its bills. Senator Chuck Schumer announced the deal on the floor of the Senate on Thursday morning after lawmakers had been in a standoff over raising the debt limit for weeks. « We have reached agreement to extend the debt ceiling through December. And it’s our hope that we can get this done as soon as today, » Schumer said. The agreement, according to a Senate aide, is to raise by $480 billion as is needed to allow the Treasury to keep paying the bills through December 3. Republicans to suspend the debt ceiling with a simple majority vote in the Senate, meaning they would have needed 60 votes, which they did not have.
