The Obama administration and Congress are nearing a crucial budget deal that would increase domestic spending and raise the federal borrowing limit over the next few years.
The deal is far from certain, according to congressional aides, but it would avert an impending default on November 3.
President Obama, for his part, had repeatedly said that he would not negotiate over raising the debt limit in the past and John Boehner has discussed his desire to clear major divisive hurdles before handing the reins over to Paul Ryan, the likely next Speaker of the House. Read more at The New York Times.
{CB Frommer-Matzav.com Newscenter}
