Senate kills House debt measure
WASHINGTON — In an unforgiving display of partisanship, the House passed emergency legislation tonight to avoid an unprecedented government default and the Senate scuttled it less than two hours later.
The final outcome — with the White House and Senate Democrats calling anew for compromise while criticizing Republicans as Tuesday’s deadline drew near — was anything but certain.
“We are almost out of time” for a compromise, warned President Barack Obama as U.S. financial markets trembled at the prospect of economic chaos next week.
Worse case scenario?
