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Washington (AFP) – Senate Majority Leader Harry Reid said Wednesday that a deal had been reached with Republican leaders to end a fiscal impasse that has threatened the United States with default.

Reid, speaking from the Senate floor, said the agreement called for reopening the federal government with a temporary budget until January 15 and to extend US borrowing authority until February 7.

“The compromise we reached will provide our economy with the stability it desperately needs,” Reid said.

Senator Mitch McConnel, the top Republican, followed, confirming the agreement, which has to be approved by both the Senate and the Republican-controlled House.

US borrowing authority is on track to expire at midnight, and without an agreement the United States runs the risk of a default with potentially devastating consequences.

AFP Photo/Alex Wong

Photo by Mediamodifier from Pixabay

Reprinted with permission from TomDispatch

When it rains, pieces of glass, pottery, and metal rise through the mud in the hills surrounding my Maryland home. The other day, I walked outside barefoot to fetch one of my kid's shoes and a pottery shard stabbed me in the heel. Nursing a minor infection, I wondered how long that fragment dated back.

A neighbor of mine found what he said looked like a cartridge case from an old percussion-cap rifle in his pumpkin patch. He told us that the battle of Monocacy had been fought on these grounds in July 1864, with 1,300 Union and 900 Confederate troops killed or wounded here. The stuff that surfaces in my fields when it storms may or may not be battle artifacts, but it does remind me that the past lingers and that modern America was formed in a civil war.

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