Dow up 300+ points, House to vote for debt ceiling date change to Nov. 22

Washington (CNN) -- House Republican leaders said Thursday they will propose a temporary increase in the nation's borrowing limit -- a first step toward a potential compromise to end the political stalemate that has shut down parts of the government and threatens a U.S. default as soon as next week.

After meeting with his caucus, House Speaker John Boehner said Republicans want substantive talks with President Barack Obama and Democrats on reducing the nation's chronic federal deficits and debt in return for removing the immediate threat of default.

Sources said the House GOP measure would extend the debt ceiling until November 22.
Boehner said the proposal that could be voted on by the House as soon as Friday would offer the temporary increase in the debt ceiling.

In exchange, he wants Obama "to sit down and discuss with us a way forward to reopen the government and to start to deal with America's pressing problems."

Eric wrote:

Washington (CNN) -- House Republican leaders said Thursday they will propose a temporary increase in the nation's borrowing limit -- a first step toward a potential compromise to end the political stalemate that has shut down parts of the government and threatens a U.S. default as soon as next week.

After meeting with his caucus, House Speaker John Boehner said Republicans want substantive talks with President Barack Obama and Democrats on reducing the nation's chronic federal deficits and debt in return for removing the immediate threat of default.

Sources said the House GOP measure would extend the debt ceiling until November 22.
Boehner said the proposal that could be voted on by the House as soon as Friday would offer the temporary increase in the debt ceiling.

In exchange, he wants Obama "to sit down and discuss with us a way forward to reopen the government and to start to deal with America's pressing problems."

As for further economic talks starting soon.....Harry Reid has already said...No....Another short term...stop gap instead of the lawmakers doing their jobs..So guess the next crisis will begin going into the Thanksgiving...Christmas Seasons....Is there ANYONE that is proud of our elected leaders?...

House Republicans are running scared. They can see the polls. Big businesses are giving them warning that if they continue this shutdown the businesses will finance primary candidates to run against them next year.
I hope that is so. With enough financing, the tea partiers can be tossed out on their behinds and it just might save the Republican party. That's the only way I can see it surviving this suicidal action.

Although I'm a registered Democrat, I can't help admire some of the actions of the Republicans.

I would have preferred that they used runaway spending as their main talking point, though. That is more bipartisan as both sides of the aisle have pork projects they have supported. Going after spending is not so much of a Republican/Democrat "in yo face" thing and might have not alienated so many people.

Going after Obamacare first... a decidedly Democrat program... only caused an "us vs. them" attitude where nothing was accomplished, except to hurt our fragile economy further.

I'm surprised the Dow isn't tanking. Investors don't seem to be too concerned this morning.