When asked on Sunday during an
ABC interview by George Stephanopoulos whether he was "not prepared to schedule a clean bill on government funding," Boehner said "There are not the votes in the House to pass a clean
The Democrats in the House believe that there would be enough support by members of both parties at least to raise the debt limit, according to several media reports.
Obama during a visit to the Federal Emergency Management Agency's headquarters in Washington on Monday said he believed the House would pass a "clean" bill to reopen the government if Boehner were to allow a vote to go to the floor, according to a Wall Street Journal report. "If Republicans, Speaker Boehner, are saying there aren't enough votes they should prove it," the president said.
In economic news on Monday, the Federal Reserve reported that consumer credit in the U.S. during August expanded at an annual rate of 5.4%, increasing from a rate of 4.15% the previous month. Revolving debt declined at an annual rate of 1.2%, continuing its trend during the years following the credit crisis, but the rate of decline slowed from 2.6% in July. Nonrevolving consumer credit during August expanded at an annual rate of 8%, accelerating from 6.8% in July.Total consumer debt during August increased by $13.6 billion to $3.023 trillion. Economists polled by Thomson Reuters had on average estimated consumer debt would increase by $12 billion.
Email. Follow @PhilipvanDoorn
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts