A senior White House official tells ABC News’ Jake Tapper that there is a 50-50 chance that by this time next week we will be no closer to reaching a deal to raise the debt limit.”We may be here as we tick down to midnight,” the official said.
This is especially troubling given strict House and Senate rules, which require days-long debate or review periods before legislation can be voted on.
The Treasury Department maintains August 2nd is the last day the government can meet all of its obligations without an increase to the borrowing limit.
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