US Senate Democrats ready debt limit bill, Boehner wants talks
WASHINGTON (REUTERS) - US Senate Democrats plan to introduce a bill this week to raise the government's borrowing authority by enough to last through 2014 in an effort to avoid a fiscal default that could have a disastrous economic impact.
The measure, which must be discussed among Senate Democrats at a luncheon meeting on Tuesday, would not contain any of the deficit reductions that Republicans have demanded, a Senate Democratic aide said.
Both sides are searching for a way to resolve a fiscal standoff that has shut down the federal government for eight days, with a critical date for raising the country's US$16.7 trillion (S$ 21 trillion) borrowing limit approaching in nine days.
House of Representatives Speaker John Boehner, a Republican, renewed his call for deficit-reduction talks with President Barack Obama, saying he was not "drawing any lines in the sand".