Senate Strikes a Deal!! Will the House?

[shintao]

WASHINGTON (AP) - Senate leaders announced last-minute agreement Wednesday to avert a threatened Treasury default and reopen the government after a partial, 16-day shutdown. Congress raced to pass the measure by day's end.

 

The Dow Jones industrial average soared on the news that the threat of default was fading, flirting with a 200-point gain in morning trading. Hard to say that Cruz's shutdown bill didn't have an affect on the affluent, or this nation.

 

While the deal could meet resistance from conservatives in the Republican-controlled House, the Democratic Leader, Rep. Nancy Pelosi of California, supports the plan and says her rank and file is expected to vote for it in overwhelming numbers. That raised the possibility that more Democrats than Republicans would back it, potentially causing additional problems for House Speaker John Boehner as he struggles to manage his tea party-heavy majority.

 

After abandoning their own plan on Tuesday, House members quietly awaited Senate action, resigned to the likelihood that they would have to back the deal or plunge the nation into default. The only silver lining was the promise that it would be their last vote for the week after three straight weekends in Washington.