Senate Will Stay In Session Next Week To Work On Debt And Deficit

"The Senate has abandoned plans for a July 4 break and instead will work next week as lawmakers race the clock in an attempt to strike a compromise on avoiding a government default and reducing mammoth federal deficits," The Associated Press writes.

The office of Senate Majority Leader Harry Reid (D-NV) released a statement a short time ago in which Reid says:

"The Senate will reconvene on Tuesday, the day after the Fourth of July. We will be in session next week, with our first vote on July 5th. There is still so much to do to put Americans back to work, cut our deficit and get our economy back on track.

"And that work is too important, the obstacles too steep and the time too short to waste even a moment."

The House was already scheduled to be in session next week.

It's the issue of the federal government's debt ceiling, of course, that is front-and-center. According to the Treasury Department, the government won't be able to pay its bills after Aug. 2 unless that limit on borrowing is raised.



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