U.S. House of Representatives Republicans on Thursday refused to give in to President Barack Obama's demand for straightforward bills to run the government beyond September 30 and to increase borrowing authority to avoid a historic default.
In a direct challenge to Obama, they said they will seek a one-year delay in the full implementation of the national healthcare law known as "Obamacare" in return for raising U.S. borrowing authority by enough to let Treasury borrow through the end of 2014.
The move does not bode well for prompt resolution of these fiscal battles that could lead to a government shutdown on October 1 and a default in mid-October. Precious time will be consumed on both issues as they bounce back and forth between the Republican-controlled House and the Democratic Senate, with each party anxious to make the other look uncompromising and thus responsible for any economic damage that might occur.
http://www.reuters.com/article/2013/09/26/us-usa-fiscal-idUSBRE98N11220130926
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