Punchbowl News: “OK, here’s the current state of play with seven days to go until the U.S. could default on its debt: The House Republican leadership feels exceedingly confident that they’ll clinch a deal with the White House to raise the debt limit and pare back federal spending. Republicans expect the compromise will come together sometime in the next few days. There’s intense pressure to wrap negotiations up as soon as possible in order to get a bill through Congress in a timely fashion.”
“We anticipate that the debt limit will be extended through 2024 as part of any agreement.”
“And the GOP leadership feels as if they will be able to win the support of the majority of the House Republican Conference for this eventual package.”
Also important: “We also want to lay down a marker once again and tell you that the anger in the House Democratic Caucus right now is palpable.”
Reality check from the New York Times: Potential debt ceiling deal would barely change federal spending path.
