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www.metro.us Wednesday, October 16, 2013

NEWS N

10

Fiscal negotiations stumble in Congress as deadline nears GOP. Many polls show Republicans have taken a hit in opinion polls since the stando began.

House plan

Progress

Obama believes ďŹ scal impasse will be resolved

Stop-start negotiations to end the U.S. fiscal impasse left congressional leaders and President Barack Obama desperately searching yesterday for a way to reopen the government and raise the country’s debt limit ahead of a deadline tomorrow. Fitch Ratings warned it could cut the sovereign credit rating of the United States from AAA citing the political brinkmanship over raising the federal debt ceiling. Fitch’s action emphasized how close to an

The U.S. Treasury Department used the credit rating downgrade threat to press Congress. / GETTY IMAGES

President Barack Obama, in an interview with New York’s WABC television, said movement toward a bipartisan deal in the Senate leads him to believe progress is being made. “My expectation is it does get solved but we don’t have a lot of time,� he said. He added he had been cautioning lawmakers, “Let’s not do a lot of posturing, let’s not try to save face, let’s not worry about politics.�

The new plan from House Republicans: •

Would not include a previous eort to delay a tax on medical devices that would be used to pay for Obama’s healthcare plan. Obama

economically damaging default Washington has come and sent U.S. stock futures lower. Republicans in the fractious House of Representatives said they would try a new approach after their first attempt crash-landed yesterday. But differences with an emerging Senate proposal could complicate prospects for final passage before Oct. 17, when the U.S. Treasury

Quoted

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Would only provide government funding until Dec. 15. The Senate, would keep the government open longer, until January 15.

says the government will reach its borrowing limit. The first alternative plan from House Republican leaders failed to gain enough support in a closed-door morning meeting for the House to proceed. The disarray raised questions about what the House will ultimately be able to pass and stoked 11th-hour uncertainty. REUTERS

-60

After the Fitch announcement, Dow Jones industrial average futures sank 60 points and Nasdaq 100 futures fell 7.5 points.

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Markets

House Speaker John Boehner

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