WASHINGTON (AP) — Riven by partisanship, the Republican-controlled House passed legislation Friday night to prevent a threatened government default and bundled it off to a swift and certain defeat in the Senate.
"We are almost out of time" for a compromise, warned President Barack Obama as U.S. financial markets trembled at the prospect of economic chaos next week.
The final outcome — with the White House and Senate Democrats calling for compromise while criticizing Republicans as Tuesday's deadline drew near — was anything but certain.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
