Attempts to craft a deal to end the government shutdown and raise the debt limit fell apart in the Republican-led House Tuesday evening, after the latest Republican proposal seemingly failed to garner sufficient support. The House shelved the vote it was aiming for, leaving Senate leaders to figure out a last-ditch solution.
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Still, the White House is furiously trying to drive home the point that Congress needs to raise the debt limit as soon as possible.
"Every day that we get closer to the point beyond which we've never been, which is where the United States does not have borrowing authority, creates more trouble for our economy and uncertainty globally, which has a negative impact on our economy," White House spokesman Jay Carney said Tuesday.
"The deadline for avoiding uncertainty has passed" already, he added.
Indeed, the global rating agency Fitch said Tuesday that the United States' AAA credit rating is now under review for a downgrade.
"Although Fitch continues to believe that the debt ceiling will be raised soon, the political brinkmanship and reduced financing flexibility could increase the risk of a U.S.