ABC News reports Thursday, Oct. 10 breaking news from Washington where the president met with top Republican leaders around 5 p.m. EDT in search of a deal to break the stalemate on passing an increase on the debt ceiling. Both sides call the meeting productive, saying that “talks will continue tonight." Sources in the press say "just on rumors of this deal, Wall Street was way up today.”
Speaker John Boehner offered to “at least postpone the worse-case scenario — a default by the U.S. government — which economists say would trigger economic meltdown,” said ABC News correspondent Jonathan Karl, referred to as “little more than a Republican Party stenographer who would ‘represent’ House Speaker John Boehner’s point of view” in The Raw Story on Monday. Boehner told the press, “What we want to do is offer the president, today, the ability to move ... A temporary increase in the debt ceiling for his willingness to sit down and discuss with us a way forward to reopen the government.” His offer would delay the default for only six weeks, whereas the White House would prefer an extension of at least a year. Press secretary Jay Carney commented, “I think longer is better, but avoiding a crisis is better than having a crisis.” The Raw Story says “This debt ceiling crisis is not just politics as usual,” cautioning that the spin should be ignored.
Neither Republicans nor the White House is talking to the media on whether a deal will be struck or not, at this time. However, Wall Street rallied, making Thursday “the best day for the Dow, all year,” announced Diane Sawyer on ABC’s World News Thursday evening. The Dow Jones Industrial Average (DJIA) was up 323.09 points, “All of the shutdown losses wiped away in one day of trading,” Sawyer stated.