WASHINGTON — The White House and senior Republican lawmakers acknowledge they remain far apart on a “grand bargain” fiscal deal to address the defense sequester cuts. But a recurring Washington issue could further complicate striking such a deal: a pending partisan fight over the nation’s borrowing limit.
Some on Capitol Hill expect both chambers will enter contentious talks about whether to raise — or perhaps again temporarily suspend — the nation’s borrowing limit in late summer.
Some analysts say the nation will hit its borrowing limit in August or September.
That timing could coincide with talks between President Barack Obama and Senate Republicans about the kind of grand bargain needed to lessen or replace the last nine years of the national defense and domestic sequestration cuts.
Sen. Bob Corker of Tennessee, one of more than a dozen Senate Republicans Obama has been courting in pursuit of a grand bargain, told Defense News in late March that whatever solution the two sides come up with needs to be in place by the time Congress leaves for its August recess.