At least they’re indoors where it’s air-conditioned. The Atlantic Wire has an update on “The Urgent Need for a Debt Deal Before a Monday Market Panic“:
… President Obama called an urgent meeting Saturday morning at the White House, which ended without resolution less than an hour later, the New York Times reports. The meeting, as various sources have speculated, was probably not a happy one. […] __
Another Democratic aide told TPM that “Leaders discussed the urgency of finding a path forward this weekend and agreed that staffs would work together throughout the weekend.” White House press secretary Jay Carney likewise said in a statement, “The leaders agreed to return to Capitol Hill to talk to their members and discuss a way forward, and conversations will continue throughout the day.” And after the meeting, Boehner held a conference call with rank-and-file Republicans where he pledged to help avert a crisis in the Asian markets by making a statement within 24 hours about the status of raising the debt limit…
Still, the result is that not only will all sides be working through the weekends, they may not get a break all next week, either. NBC News Capitol Hill reporter Luke Russert indicated that, according to NBC News’ Shawna Thomas over Twitter: “Per GOP aide House plans to be in session for a week straight starting Monday. A Monday to Monday work week. The goal according to the aide is to pass a debt deal and gavel out on Monday evening August 1st.”
It looks like it will be a long week. According to TPM, “Boehner said he was hoping to forge a deal to wrangle between $3 trillion and $5 trilion in savings and would prefer to avoid falling back on the so-called ‘McConnell Plan’ that would hand over authority to raise the debt ceiling to the President with Congress able to disapprove only with a two-thirds majority vote.” The New York Times reports that Boehner said on Saturday that, “As I said last night, over this weekend Congress will forge a responsible path forward. House and Senate leaders will be working to find a bipartisan solution to significantly reduce Washington spending and preserve the full faith and credit of the United States.”
FWIW (and I’m heartened by it) there’s a report at TPM that Harry Reid stated, again, “I will not support any short-term agreement, and neither will President Obama nor Leader Pelosi… We seek an extension of the debt ceiling through at least the end of 2012. We will not send a message of uncertainty to the world.”
So, looks like the next Kabuki Smackdown Special will occur after the Sabbath-Day Gasbags bloviate, but before the Asian markets go into free-fall.
In the interim, what’s everyone doing on this summer Saturday evening?