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Reid Calls GOP Debt Bill ‘Dead on Arrival’ as White House Threatens Veto

White House Press Secretary Jay Carney said afterward that Reid’s bill could potentially pass both chambers “if folks gave it a fair shake,” describing it as a better bill. He said the GOP bill would not pass Congress, adding: “Compromise is the only option.”

He warned of “enormous” consequences if Congress does not raise the debt ceiling by Aug. 2. White House budget director Jack Lew also told Fox News that Aug. 2 is a “very real” deadline. “No one should assume there’s room beyond that,” Lew said. Continue reading

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