President Clinton, accompanied by sixth grade students from Thomas Jefferson Middle School in Arlington, Va., gestures while speaking in the Oval Office of the White House Monday Dec. 18, 1995 after vetoing two spending bills. With negotiators mired in a broader budget debate, the president vetoed the bills arguing they would undermine the nation's environment.
Just a few days ago, the political system seemed completely stuck as the Aug. 2 debt-default deadline approached. Now the deadline has arrived, and it seems likely that President Obama will sign a debt limit extension. NPR's Ron Elving talks with Steve Inskeep about the path Congress took to get to the agreement.
House Majority Leader Eric Cantor (R-VA) speaks with reporters after the House voted to raise the debt ceiling.
After the House passed the debt ceiling deal with a surprising lopsided 269-161 vote, yesterday, the Senate is scheduled to vote on the bill at noon, today. If it passes, it heads to the president's desk and with a signature the debt ceiling is immediately raised by $400 billion. And it would all happen just hours before the day the Treasury said the country would run out of money.