Senate Finalizing Deal on Debt Limit

Senate Majority Leader Harry Reid and Senate Minority Leader Mitch McConnell “are finalizing a deal to avert a debt default and reopen the government, capping a frantic day that had Washington bracing for an economic crisis of its own making,” Politico reports.

“The deal is essentially done, sources say, as aides for the two leaders finish drafting the legislative language Tuesday night.”

Sen. Roy Blunt (R-MO) said it was time to end what had emerged as a politically disastrous episode for Republicans: “The only reason why the Democrats don’t look terrible is we look even worse.”