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Boehner's Got a Debt-Ceiling Deal... Maybe—THE EDGE Brought to you by AbbVie I... Boehner's Got a Debt-Ceiling Deal... Maybe—THE EDGE Brought to ... Boehner's Got a Debt-Ceiling Deal... Maybe—THE EDGE Brought to you b... Boehner's Got a Debt-Ceil...

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The Edge

Boehner's Got a Debt-Ceiling Deal... Maybe—THE EDGE Brought to you by AbbVie Inc.

October 10, 2013

By Patrick Reis and Dustin Volz

TODAY IN ONE PARAGRAPH: Congress is taking furtive steps toward a debt-ceiling deal Thursday, after House Republican leadership proposed a plan to lift the limit for six weeks. The deal would be conditional on President Obama promising negotiations over the budget and Obamacare, and it remains to be seen if John Boehner can convince his caucus to go along with it. Meanwhile, the shutdown impasse continues, as the House continued its process of sending doomed piecemeal funding bills to the Senate. But both chambers found something to agree on, when the Senate passed legislation funding military death benefits—a bill the House passed unanimously Wednesday.

TOP NEWS

A SHORT-TERM DEAL IS TAKING SHAPE. REALLY. Ten days into the shutdown and prodded by Speaker John Boehner, House Republicans intend to offer President Obama a deal increasing the debt limit for six weeks, through Nov. 22, during a late-afternoon summit at the White House. Though it's close to the time when Americans will be feasting on turkey, the short-term resolution looks to have a good chance of getting done soon if Obama promises to agree to a work on a deal reducing long-term deficits and a tax overhaul. (Alberta/House, NJ)

 

FOLLOW WHAT'S HAPPENING NOW: The shutdown/debt-ceiling showdown is heating up again, and so is NJ's live coverage of the negotiations and backroom drama. ( NJ)

CARNEY'S RESPONSE TO THE GOP PEACE OFFERING: "The president is happy that cooler heads at least seem to be prevailing in the House." But the press secretary cautioned: "We'll see what the House Republicans propose; we'll see what they're able to pass."

WHO KISS AND MADE UP FIRST?: Democrats and Republicans made concessions nearly simultaneously, spurred on by Treasury Secretary Jacob Lew's crafty doublespeak during his morning testimony. Both sides are budging, in part because they can willfully deny doing it first. Children, meet playground. (Michael Hirsh, NJ)

ONE AWESOME GRAPH SHOWING WHO THE GOVERNMENT OWES: Almost $17 trillion in debt, broken down in a handy, colorful chart. (Spoiler: Foreign countries own a sizeable chunk, but not all of it.) (Quoctrung Bui, NPR)

TOMORROW IN ONE PARAGRAPH: Both the House and Senate are in session. Secretary of State John Kerry is in Malaysia attending the Global Entrepreneurship Summit. The Senate Commerce, Science and Transportation Committee holds a full hearing on the impacts of the government shutdown on economic security at 11 a.m.

TOP LINES

RICHER THAN GOVERNMENT: At least nine S&P 500 companies have more cash on hand than the federal government right now. Nobody panic. (David Yanofsky, Quartz)

JOBLESS CLAIMS: The number of unemployment claims rose by 66,000 last week, reflecting the impact of the shutdown on private workers. September retail sales also disappointed. (Morath/Portlock, WSJ)

BLACKBERRY REDEMPTION: Cofounder Mike Lazaridis is looking to make a bid to reclaim ownership of the company that ousted him back in 2011. (Connors/Dummett, WSJ)

DETROIT WOES: Former Mayor Kwame Kilpatrick was hit with 28 years in prison for racketeering conspiracy, fraud, extortion, and tax crimes. Ed White, AP)

TOP READ

EVERYTHING YOU THOUGHT YOU KNEW ABOUT THE BUSH/CHENEY RELATIONSHIP IS (MOSTLY) RIGHT: Peter Baker has offered an excerpt of his forthcoming book Days of Fire: Bush and Cheney in the White House that chronicles the storied relationship between "the Man" and "Dick." Cheney wielded historic influence in the Bush White House, no doubt, but he "was hardly the puppeteer that critics imagined." The falling out over Scooter Libby and other second-term issues is still evident in the lukewarm relationship the pair shares today. ( NYT)

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