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7/18, 2:01 AM (Source: TeleTrader.com)
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Republicans divided over debt ceiling date

The US Republicans are divided whether to raise the debt ceiling before the August recess, with senators opting to act soon while members of the more conservative House are reluctant to take the vote before the break, Politico reported on Monday.  

Senate Republicans are waiting for John McCain to recover from surgery over health care bill and in the meantime could turn their attention to the nation’s nearly $20 trillion borrowing authority, which needs to be increased this fall to avoid a devastating default. Senate Republicans have made clear they prefer raising the debt ceiling before leaving for recess the second week of August. The House, however, has other plans. GOP leaders want to raise the debt ceiling before the "X date" but have downplayed the possibility that the date would fall before the summer break.

TeleTrader Newsroom / KP