Pelosi ready for deal on borrowing limit, spending levels

House Speaker Nancy Pelosi of Calif. listens to a question as she meets with reporters on Capitol Hill in Washington, Thursday, July 11, 2019. (AP Photo/Andrew Harnik)

WASHINGTON — House Speaker Nancy Pelosi says she wants to complete a deal with President Donald Trump this month that would raise the government's borrowing limit and set spending levels for the coming budget year.

Pelosi's office says the California Democrat spoke twice with Treasury Secretary Steven Mnuchin on Thursday, and she told reporters she is convinced the double-barreled negotiation needs to be completed before Congress leaves Washington for its August recess.

Mnuchin has been urging lawmakers to raise the so-called debt limit soon, warning that the government risks defaulting on U.S. obligations in early to mid-September. Pelosi and Capitol Hill GOP leaders want to pair the unpopular debt measure with a new spending "cap" for the approximately $1.3 trillion in agency budgets appropriated by Congress each year.

Must Read

US home sales fell in July amid inventory shortage

Aug 24, 2016

US sales of existing homes down 3.2 percent in July amid fewer listings, higher prices

The hidden risk to the economy in corporate...

Aug 24, 2016

America has a debt problem, and the big borrower this time may surprise you: Corporate America

California lawmakers approve extension of climate...

Aug 25, 2016

California lawmakers have approved a 10-year extension of the state's landmark climate change law

Clinton could face mounting problem with health...

Aug 29, 2016

Double-digit premium increases and exits by big-name insurers raise new questions about 'Obamacare'

US bank earnings in Q2 climbed 1.4 percent to...

Aug 30, 2016

U.S. banks' earnings in the April-June period rose 1.4 percent from a year earlier as growth in...

Sign up now!

About Us

In The Headline sought to bring professionalism back into journalism, bringing you only the most exclusive and the most impactive news from all over the globe.

Contact us: sales[at]intheheadline.com