There may be a light at the end of the tunnel to the funding and debt limit crisis that has gripped the country.
According to Yahoo News on Oct. 11, hope for a compromise between President Barack Obama and House Speaker John Boehner may be on the horizon after the two had "constructive" talks at the White House on a short-term fix to avert a default on the nation's debt.
After days of gridlock, House Republicans have proposed a six-week extension of the debt ceiling in return for an agreement by the White House to open up negotiations on a funding bill that would re-open the federal government which closed up operations on Oct. 1.
The Obama administration signaled on Oct 10 that it would be willing to approve a short-term deal on the debt ceiling to avoid a default that would threaten to send the economy into a tailspin. But White House aids also doubled-down on the fact that they would not accept any measure that contained partisan conditions.
Talks of a deal made it's way to Wall Street, as the Dow Jones gained more than 300 points after the opening bell, and the tech-heavy Nasdaq also gaining two points after the opening bell.
The White House is also seeking the Republican-led house to include a temporary budget to reopen the government before he re-opens negotiations on a long-term spending plan.
Obama sat down with House GOP leaders for 90 minutes at the White House , who quickly returned to the Capitol with House GOP leader Eric Cantor offering an upbeat report on the talks, despite no deal being struck yet. Cantor told reporters:
It was a very useful meeting, we had a constructive conversation.
The White House was more cautious, in which it made it clear that their first preference is to both re-open the government and extend the debt ceiling. In a statement released to the media, the White House wrote:
After a discussion about potential paths forward, no specific determination was made. The President looks forward to making continued progress with members on both sides of the aisle.
Senate Republicans are expected to meet with Obama on Oct 11.
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