United States steps back from debt cliff… for now

Published by
AFP

Washington (AFP) – The United States staved off a catastrophic credit default Thursday after Democrats accepted an offer from the Republicans to raise the debt limit for two months. Chuck Schumer, who leads the Democrats in the Senate, announced the breakthrough on Thursday after hours of negotiations in Congress going into the early hours of the morning. “We have reached agreement to extend the debt ceiling through early December, and it’s our hope that we can get this done as soon as today,” Schumer said. With the threat of a default just 11 days off, Republican Senate Minority leader Mitch …

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