Democrats and Republicans may soon reach a compromise in regard to the debt ceiling. Senator Chuck Schumer told the Wall Street Journal that he believes a deal could be reached on Thursday. Congress must act before the Oct. 18 default deadline. CNN says this compromise is “only the bare minimum way out of this,” highlighting that even if a deal is reached, an agreement only delays the showdown. It doesn’t resolve it.

 

Fox News/Edmund DeMarche and Fox News Staff
Schumer says ‘good progress’ on debt ceiling after late negotiations, no deal

Sen. Chuck Schumer, D-N.Y., struck an optimistic tone early Thursday and said negotiations to avoid a federal default were progressing, but there was still work to be done.

“We’re making good progress; we’re not there yet, but I hope we can come to an agreement tomorrow [Thursday] morning,” he said, according to the Wall Street Journal. He made the comment shortly after midnight.

Republicans and Democrats are working to determine just how much the debt limit should be increased before the Oct. 18 deadline.

Schumer expressed optimism that a deal could be reached Thursday.

Read the entire story, here.

 

CNN/Lauren Fox, CNN
The last-minute deal on the debt ceiling that only saves the economy for now

A rare moment Wednesday on Capitol Hill gave way to a potential deal on the debt ceiling.

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 CNN 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 transpired Wednesday and is still being negotiated Thursday morning is the bare minimum way out of this, but it’s a way out. That more than anything explains the motivations here.

You can read the full story, here.

 

Yahoo News/Ben Geier, CEPF
Gold price headed to $5,500 in the long term as central banks won’t be able to exit unorthodox monetary policies – Jefferies

COVID-19 has impacted Americans in many different ways. And while some workers say that the pandemic has caused them to delay retirement, a study from Northwestern Mutual shows that younger people want to retire earlier. If you are planning to retire early, a financial advisor could help you create a financial plan to reach your goals.

Perhaps the most interesting tidbit found in the study is that, overall, the two youngest generations currently in the workforce are planning on retiring before they reach age 60 – Gen Z at 59.4 on average and millennials at 59.5. The overall average expected retirement age is 63.6, which is up from 63.4 last year.

Continue reading, here.

 

 

 

 

 

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