Congress Skeptical Debt Ceiling Negotiations Will Meet Deadline


joe biden

Members of Congress are not optimistic that the ongoing debt ceiling negotiations will produce a deal by the July 1st deadline set by Vice President Joe Biden, according to a National Journal poll of Members of Congress.

Asked whether they thought the "Biden Group" would reach a bipartisan deal by July 1st, 52% of Democrats, and 79% of Republicans answered no.

The poll was conducted before House Majority Leader Eric Cantor (R-VA) and Sen. Jon Kyl (R-AZ) quit the talks earlier today — which certainly isn't helping.

 

Technically the government has until August 2 to raise the debt ceiling to avert default, but both side have said they want to reach a decision sooner to avoid the markets going into a panic. 

Read: It's Possible There Will Be No Deal On The Debt Ceiling

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Source: http://feedproxy.google.com/~r/businessinsider/~3/ZaEP_JZWUpw/congress-skeptical-debt-ceiling-negotiations-will-meet-deadline-2011-6

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