This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/world-us-canada-24483014
The article has changed 19 times. There is an RSS feed of changes available.
| Version 8 | Version 9 |
|---|---|
| US Republicans make temporary debt-ceiling offer | US Republicans make temporary debt-ceiling offer |
| (35 minutes later) | |
| US Republicans have offered President Barack Obama a short-term debt limit increase to stave off default. | US Republicans have offered President Barack Obama a short-term debt limit increase to stave off default. |
| House of Representatives Speaker John Boehner said they would do so in exchange for negotiations with the White House to end a government shutdown that took effect on 1 October. | House of Representatives Speaker John Boehner said they would do so in exchange for negotiations with the White House to end a government shutdown that took effect on 1 October. |
| Republicans met Mr Obama and pledged to resume talks later in the evening. | |
| Officials have warned the US risks default on 17 October if the nation's borrowing limit is not increased. | Officials have warned the US risks default on 17 October if the nation's borrowing limit is not increased. |
| Mr Boehner told reporters on Thursday: "What we want to do is to offer the president today the ability to move a temporary increase in the debt ceiling in agreement to go to conference on the budget for his willingness to sit down and discuss with us a way forward to reopen the government." | Mr Boehner told reporters on Thursday: "What we want to do is to offer the president today the ability to move a temporary increase in the debt ceiling in agreement to go to conference on the budget for his willingness to sit down and discuss with us a way forward to reopen the government." |
| "It's time for leadership," the Ohio Republican said. "It's time for these negotiations and this conversation to begin." | "It's time for leadership," the Ohio Republican said. "It's time for these negotiations and this conversation to begin." |
| Worker layoffs | Worker layoffs |
| A spokesman for Mr Boehner told reporters the deal offered was a "clean" increase of the debt limit, with no additional policies attached. | |
| It would only last six weeks - until 22 November. | It would only last six weeks - until 22 November. |
| Reacting to the offer, White House press secretary Jay Carney told a daily press briefing the president was glad that "cooler heads" seemed to be prevailing in the House. | |
| But he added: "He will not pay ransom in exchange for the Republicans in the House doing their job." | But he added: "He will not pay ransom in exchange for the Republicans in the House doing their job." |
| After a meeting between Republican leaders and Mr Obama and his senior aides on Thursday, the White House said no "specific determination was made". | |
| And Eric Cantor, the number-two Republican in the House, called the meeting "useful" and told reporters "it was clarifying for both sides as to where we are". | |
| "The takeaway from the meeting was our teams are going to be talking further tonight," he said. "We will come back for further discussion." | |
| Earlier on Thursday, Democratic Senate leader Harry Reid said the Senate would "look at anything" the House sent to them, but they would not engage in negotiations with Republicans prior to re-opening the government. | |
| "Not going to happen," he said. | "Not going to happen," he said. |
| 'Possible breakthrough' | 'Possible breakthrough' |
| The impasse over the debt limit has already rattled markets and increased the interest rate for one-month US Treasury bills. But US stock markets rebounded on Thursday on news of a possible breakthrough. | The impasse over the debt limit has already rattled markets and increased the interest rate for one-month US Treasury bills. But US stock markets rebounded on Thursday on news of a possible breakthrough. |
| It is not clear if Republicans are willing to drop entirely their attempts to defund or delay Mr Obama's 2010 healthcare law - demands which brought about the government shutdown, the first in 17 years. | It is not clear if Republicans are willing to drop entirely their attempts to defund or delay Mr Obama's 2010 healthcare law - demands which brought about the government shutdown, the first in 17 years. |
| And some conservatives still expressed reservations about the plan. Iowa Representative Steve King said he was "not very enthusiastic" about it. | And some conservatives still expressed reservations about the plan. Iowa Representative Steve King said he was "not very enthusiastic" about it. |
| Democratic Senate finance committee chairman Max Baucus said the Republican campaign to undermine the healthcare law in return for agreeing to end the shutdown was "not up for debate" and would not happen. | Democratic Senate finance committee chairman Max Baucus said the Republican campaign to undermine the healthcare law in return for agreeing to end the shutdown was "not up for debate" and would not happen. |
| Hundreds of thousands of federal employees have been out of work since the shutdown began, and private firms, from arms makers to motels, have begun to lay off workers. | Hundreds of thousands of federal employees have been out of work since the shutdown began, and private firms, from arms makers to motels, have begun to lay off workers. |
| About 15,000 private-sector employees have filed for unemployment benefits due to the shutdown, the US labour department said on Thursday. | About 15,000 private-sector employees have filed for unemployment benefits due to the shutdown, the US labour department said on Thursday. |
| And governors in at least four western states - Utah, South Dakota, Arizona and Colorado - have asked for authority to reopen national parks within their borders because of the economic impact of the closures. | And governors in at least four western states - Utah, South Dakota, Arizona and Colorado - have asked for authority to reopen national parks within their borders because of the economic impact of the closures. |
| Mr Obama met House Democrats at the White House on Wednesday and told them he would prefer a longer-term increase to the nation's $16.69 trillion (£10.47 trillion) debt ceiling. | Mr Obama met House Democrats at the White House on Wednesday and told them he would prefer a longer-term increase to the nation's $16.69 trillion (£10.47 trillion) debt ceiling. |
| 'Chaos' | 'Chaos' |
| But the president said he was willing to accept a short-term rise in the borrowing cap to "give Boehner some time to deal with the Tea Party wing of his party", Representative Peter Welch told the Associated Press news agency after the meeting. | But the president said he was willing to accept a short-term rise in the borrowing cap to "give Boehner some time to deal with the Tea Party wing of his party", Representative Peter Welch told the Associated Press news agency after the meeting. |
| The stalemate has harmed the approval ratings of both Democrats and Republicans, but the Republicans' popularity has taken the worst hit and is now at a record low of 28%, according to a Gallup poll. | The stalemate has harmed the approval ratings of both Democrats and Republicans, but the Republicans' popularity has taken the worst hit and is now at a record low of 28%, according to a Gallup poll. |
| Earlier, Treasury Secretary Jack Lew told a congressional panel that skipping a payment on US debt would trigger a potentially profound financial crisis. | Earlier, Treasury Secretary Jack Lew told a congressional panel that skipping a payment on US debt would trigger a potentially profound financial crisis. |
| "It would be chaos," Mr Lew told the Senate hearing. | "It would be chaos," Mr Lew told the Senate hearing. |
| Since the US hit its debt ceiling in May, the treasury has been using what are called extraordinary measures to keep paying the bills, but those methods will be exhausted by 17 October, Mr Lew has said. | Since the US hit its debt ceiling in May, the treasury has been using what are called extraordinary measures to keep paying the bills, but those methods will be exhausted by 17 October, Mr Lew has said. |
| The senior Republican on the panel, Senator Orrin Hatch, accused the Obama administration of "an apparent effort to whip up uncertainty in the markets". | The senior Republican on the panel, Senator Orrin Hatch, accused the Obama administration of "an apparent effort to whip up uncertainty in the markets". |
| But International Monetary Fund chief Christine Lagarde warned that failure by Washington to raise the federal debt ceiling would wreak serious damage on the US and global economies. | But International Monetary Fund chief Christine Lagarde warned that failure by Washington to raise the federal debt ceiling would wreak serious damage on the US and global economies. |