It’s a challenge to keep up with the pace of the debt ceiling news, so if you see anything, put it in the comments and I’ll add it. All times EST:

7:46 AM, WSJ – U.S. stock index futures were slightly higher Friday, shaking off a warning by Standard & Poor’s Ratings Services of a 50-50 chance of a U.S. government debt downgrade.

6:30 AM, Time – House Democrats and Republicans are scheduled to meet separately on Friday morning to mull over the options. House Republicans sources told TIME that while such a deal [McConnell] might not be able to pass this week, as the deadline looms – and Wall Street starts to freak out – positions are likely to soften.

2:02 AM Politico – The Cut, Cap and Balance Act [balanced budget act] is one of the ideas that’s gaining steam on Capitol Hill. McConnell, who has become the subject of ire from the right in recent days, expressed support for the plan Thursday. (I guess that’s why the WaPo is wigging out, below)

1:07 AM Reuters – China, the United States’ biggest foreign creditor with more than $1 trillion in Treasury debt, urges Washington to adopt responsible policies to protect investor interests.

12:59 AM LA Times – “Republicans want cuts greater than the $2.4 trillion it would take to increase the debt ceiling through next year, but have refused to consider higher taxes on wealthy Americans or corporations, as proposed by Democrats in exchange for reductions in Medicare and other programs.”

12:22 AM Politico – Blue Dogs balk:  Jim Cooper, Dennis Cardoza and other Dems in tough districts are starting to sour on the process, arguing that the intractability among Republican rank and file is threatening their support.  Sanford Bishop: “Why would we give a tea party person a pass when we’re having to take the tough vote?”  ”The Republicans need to get their votes in line,” said another senior Blue Dog member. “This is a scary proposition. I think a deal is unlikely.”

10:29 PM Bloomberg – The dollar weakened and Treasuries slid for a third day after Standard & Poor’s Ratings Services became the second ratings company to say this week it may cut the U.S.’s top credit rating

8:28 PM Bloomberg – Obama told congressional leaders to report to him within two days on what debt-limit options their members can support.  Obama and congressional leaders, who met today at the White House for an hour and 20 minutes, don’t plan another session tomorrow and instead will focus on sounding out their party members in Congress

 

Jane Hamsher

Jane Hamsher

Jane is the founder of Firedoglake.com. Her work has also appeared on the Huffington Post, Alternet and The American Prospect. She’s the author of the best selling book Killer Instinct and has produced such films Natural Born Killers and Permanent Midnight. She lives in Washington DC.
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