ABC News reports:
Senate Minority Leader Mitch McConnell blinked after a three-month stalemate with Democrats. Democrats appear to have taken a deal that many in the caucus acknowledge is little more than kicking the can down the road. But as aides and members have made clear to over the course of the last 15 hours, what other choice was there?
Democrats were insistent they’d run out of time to use a convoluted budget process and moderate Democratic Sen. Joe Manchin of West Virginia wasn’t budging on changing the rules of the Senate, even in the midst of this emergency. What is still being negotiated Thursday morning is the bare minimum way out of this, but it’s a way out.
NEWS: Schumer says he and McConnell have reached a deal on the debt ceiling
“We have reached agreement to extend the debt ceiling through early December, and it is my hope we can get this done today”
— Alayna Treene (@alaynatreene) October 7, 2021
Breaking: Senate Majority Leader Chuck Schumer has announced lawmakers have reached an agreement to extend the debt ceiling through early December. He said he hopes they can “get this done” as soon as today.
— Jim Sciutto (@jimsciutto) October 7, 2021
If McConnell did blink, two possible reasons. One, he feared that he and the GOP would be blamed more for the catastrophe. Two, he believed that Schumer would have the votes for a filibuster exception for the debt ceiling, opening the door to further exceptions. I pick #2.
— Norman Ornstein (@NormOrnstein) October 6, 2021