President Obama and congressional Republicans groped today for a compromise to avert an unprecedented US default and end the 10-day-old government shutdown. "We expect further conversations tonight," House Majority Leader Eric Cantor said cryptically at nightfall, after he, Speaker John Boehner and a delegation of other Republicans met for more than an hour with Obama at the White House. The White House issued a statement describing the session as a good one, but adding, "no specific determination was made." Yet it seemed the endgame was at hand in the crises that have bedeviled the divided government for weeks. Both sides expressed fresh hopes for a resolution soon.
- Washington Post: "House Republican leaders initially offered a six-week increase in the federal debt ceiling in exchange for negotiations with President Obama on longer-term 'pressing problems,' but they stopped short of agreeing to end a government shutdown now in its 10th day."
- New York Times: "An initial report that Mr. Obama had rejected the Republicans’ offer was too definitive and came before Republican leaders or the White House had made it clear to reporters that the negotiations would continue."
- Politico: "House Republicans told Obama at the White House that they could reopen the federal government by early next week if the president and Senate Democrats agree to their debt-ceiling proposal. A GOP aide said they would seek some additional concessions if they advance a government funding bill next week."
- Even the hint of progress sent stocks soaring today.