Shutdown: Hint of hope? - KTIV News 4 Sioux City IA: News, Weather and Sports

Shutdown: Hint of hope?


We're now in day 10 of the government shut down and exactly one week away from potentially defaulting on the country's loans.

In Washington DC, there's a packed agenda of high stakes meetings between lawmakers and the President.

Republicans are offering a possible olive branch.

They'll raise the debt ceiling for six weeks so the government can pay its bills.

"What we want to do is offer the President today the ability to move a temporary increase in the debt ceiling, in agreement to go to conference on the budget," said House Speaker John Boehner.

The plan is about buying time to negotiate but their long term demands haven't changed.

"We have $17 trillion worth of debt - and there are real problems with the affordable care act," said republican Congressman James Lankford of Oklahoma.

The White House says the president will consider the compromise when he meets with republican leaders this afternoon.

"If they were to send him a clean debt ceiling extension, no partisan strings attached he would sign it. But we don't know that's what we're going to get," said White House Press Secretary Jay Carney.

This morning Treasury Secretary Jack Lew laid out the tough choices ahead like picking between paying veteran's benefits or Social Security checks, Medicare or food assistance if lawmakers don't raise the debt limit.

"Trying to time a debt limit increase to last minute could be very dangerous," Lew said.

Business leaders are also increasing the pressure on lawmakers.

"That has the potential to throw the recovery into reverse," said the National Retail Federation's David French.

They're warning of economic consequences, if the government defaults.

The standoff is hurting both sides' approval ratings but republicans are taking the biggest hit.

According to Gallop, they're at all-time low at just 28 percent.

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