- Wind Could Ground Macy's Parade Balloons
- O.J. Simpson Denied a New Trial
- Florida GOP Leaders Call for Radel to Resign
- Conn. Couple Celebrate 81st Wedding Anniversary
- Mother of Bullied Fla. Girl Wants Tougher Laws
- Ford to Recall Escapes Again for Oil, Fuel Leaks
- Nationwide Goal for 2024 Moving toward No-Kill Animal Shelters
- Murder Charges Filed After Building Collapse
- Yale on Lockdown as Gun Report Investigated
- Police: NY deli owners stole $1M lottery ticket
- Deal Reached in Iranâs Nuclear Program
- Video game re-enacts Sandy Hook shooting, relatives outraged
- High amount of workers to seek new jobs in 2014
- Senate Vote to Honor Doolittle Raiders
- Two Deaths Prompt Baby Monitor Recall
- Kennedy Cousin Granted Bail as He Awaits New Trial
- Navy Sailor And Fiancee Married At Reno-Tahoe International Airport
- At McDonald's, a push for customization
- Jumbo Jet Stuck at Small Airport
- Execution of Serial Killer Brings Peace to Local Family
- Florida Congressman Pleads Guilty After Cocaine Arrest
- President's Approval Rate Lowest of his Presidency
- Adam Levine named People's 'sexiest man alive'
- Study: Kids are less fit than their parents were
- Gas Prices Predicted to Stay Down
- Congressman and Cincinnati Native Busted on Drug Charges
- Judge Sets George Zimmerman's Bond at $9,000
- Virginia State Senator Stabbed, Son is Killed
- New Poll: 86% Of Working Americans Plan To Online Shop During Work Hours On Cyber Monday
- George Zimmerman Arrested After Disturbance Call
- 8 People Confirmed Dead from Tornadoes
- Missouri Governor Denies Killer Clemency
- In traffic stop chaos, NM officer fires at van
- Ohio Walmart Holds Food Drive for Its Own Employees
- US Postal Service Reports 7th Year of Net Loss
- 'Batkid' Begins Fighting Crime In San Francisco
- Digital pickpockets using smartphones to steal credit cards
- Florida Sinkhole Destroys Two Homes
- Mother Questions School Grading System
- Google patenting an electronic 'throat tattoo'
- Suspect Shot Inside Children's Hospital in Wisconsin
- Policy Cancellations: Obama Will Allow Old Plans
- Mob Boss Whitey Bulger Sentenced to Life in Prison
- Sex and Booze; Colorado 'Obamacare' Ads Raising Eyebrows
- NJ man, ex-girlfriend in court over Powerball win
- Sinkhole Swallows Florida Man's Backyard
- 16-Year-Old Charged for Shooting Near School
- Immigration Reform: House Will Not Talk on Senate-Passed Bill
- Shooting Reported Near Pittsburgh High School
- 'Star Wars: Episode VII' holding open casting call
- Student sues Montana college after flunking math
- Texas Teacher Punches, Knocks Out Student
- Male vs Female Bosses
- SeaWorld challenges ban limiting interaction between whale and trainer
- McConnell promotes alternative to 'Obamacare'
- Experts Settle Dispute Over America's Tallest Building
- California town builds house for wounded GI
- Cost of Thanksgiving Dinner Rises
- PG-13 Gun Violence Rivals that of R Movies
- Why A Midweek Wedding? Because It's 11/12/13
- College students could face expulsion for using gun to fend off intruder
- Suit: NY dad criticized for denying son McDonald's
- Amazon and USPS Partner for Sunday Delivery
- Target Will Open Earlier on Thanksgiving Than Last Year
- What would Jesus brew? Churches turn to serving beer to attract members
- US adds 204,000 jobs, jobless rate up to 7.3 pct.
- Gay Rights Bill to Outlaw Workplace Discrimination
- Suicide Bombings Kill 19 at Iraq Military Base
- Bank ATM spits out $50 bills instead of $20 bills
- Critics: Some Unions Could Get Break From Fees
- Price of average CVG flight second-most expensive
- High court wrestles with prayer in government
- Russian fireball shows meteor risk may be bigger
- Blockbuster closing all of its retail stores
- Castro Victim Talks About 11 Years in Captivity
- Lay's New Chocolate-Covered Potato Chips
- Toys R Us To Open At 5 p.m. On Thanksgiving Day
- Northwestern unveils Wounded Warrior uniforms
- Police: Teens Broke into Denver School to Steal
- Suspect in NJ Mall Shooting Found Dead
- Johnson & Johnson Resolves Criminal and Civil Allegations
- Lock Down Lifted at CCSU
- 3 people in police custody after lock down at Central Connecticut State U
- Feds Urge Students to Check Loan Repayment Plans
- November means facial hair
- Obamacare: Memo reveals health care adviser warned W.H. was losing control 3 years ago
- Alligator captured in Chicago's O'Hare Airport
- Texans Coach in Stable Condition After Last Night's Collapse
- Witness to LAX Shooting Speaks Out
- Judge dresses as fairy godmother during adoption ceremony
- 14-Pound Utah Baby May Be America's Biggest For 2013
- McDonald's to sell bagged coffee next year
- Suspect in Custody in LAX Shooting
- Appeals Court Rules Against Obamacare over Contraceptives
- Report: Obama campaign considered replacing Biden with Hillary Clinton
- Drug Tunnel Uncovered
- Hot-Sauce Lawsuit Rejected
- Study examines the best time for a coffee break
- Holiday travel: Procrastinators will pay this year, expert says
- Spying Scandal: Break Ins at Yahoo and Google Data Centers
- Italian Magazine Alleges NSA Spying on Cardinals
- President Obama Defends Health Care Law
- Report: NSA Broke into Yahoo, Google Data Centers
- N.D. woman to hand out
- Sebelius Apologizes for Health Care Website
- Social Security Increase Released
- Soldier in Spiderman suit surprises daughter
- Penn State to Pay Nearly $60 Million over Sandusky Claims
- Report: White House stopped phone tapping of foreign leaders this summer
- Conrad Murray Released From Jail
- Sandy Hook Elementary Torn Down
- Demolition of Sandy Hook Elementary Begins
- Indictments of JonBenet Ramsey's Parents Released
- Gunman Who Held People Hostage in Drugstore Surrenders
- Two Shot at Naval Base in Tennessee
- Virginia woman to launch ad campaign... to find a husband
- Community Stunned by Killing of Young Teacher
- National Security Official Fired over Twitter Account
- White House Denies Spying on German Chancellor
- Repairs, scaffolding ahead for US Capitol dome
- Merkel calls Obama to complain about surveillance
- Texas dad alleges bullying in 91-0 football game
- Homicide Investigation Closes Massachusetts School District
- Warning to Pet Owners about Jerky Treats After Deaths Reported
- U.S. Drone Strikes May Constitute War Crimes
- Concealed Gun Carrier Stops Man Threatening Party with Rifle
- Three Killed in Medical Helicopter Crash in Tennessee
- Three sisters hold last-minute joint wedding so their dying mother can attend
- Father charged after 2-year-old fatally shoots herself
- 'Hero' Math Teacher Credited With Saving Lives in Sparks School Shooting
- Harley-Davidson issues voluntary recall of certain '14 motorcycles over hydraulic clutch issue
- 15 Yr-Old Davion Navar Henry Only Pleads For Family To Adopt Him At Church
- Curtis W. Croft Busted When Cops Use Google Earth To Find Pot Garden
- Republican Approval Rates Take a Hit after Shutdown
- Builders of Obama's Health Care Website Saw Red Flags
- Facebook Outage Blamed on 'Network Maintenance'
- Police: Teens beat Pa. man, 65, over parking space
- Boy Scouts remove 2 men who toppled ancient rock
- Holmes defense, prosecutors resume evidence battle
- Detroit man charged in rape, murder of girl, 5
- 'Joker' charged with driving drunk in Maine
- Obama addresses widespread health care problems
- 1 dead in triple shooting at Vegas Strip nightclub
- AP sources: 476,000 Obamacare applications filed
- Raymond becomes major hurricane as it nears Mexico
- Man pleads guilty to shooting golfer who hit home
- Feds to listen to audio in SF Bay Area rail deaths
- Escaped Fla. prisoners grilled: Who helped you?
- Study: 15 percent of US youth out of school, work
- Gay Marriage to be Allowed in New Jersey
- No Charges for Firefighter in Survivor's Death
- Ex-House speaker Tom Foley dies at 84
- New York man arrested in terrorism case
- Halloween Decor Prompts 911 Calls
- Toilet-themed restaurant set to open in California
- Wal-Mart staffer Kristopher Oswald says he was fired for trying to save woman in parking lot assault
- Big asteroid buzzes past Earth and will again in 19 years
- Man Loses Weight With Beer and Sausage Diet
- Teen found with fetus in bag at store, NYPD says
- New GPS System Can Track School Bus for Parents
- Federal Workers Back in Business
- President Urges Cooperation as Federal Workers Return to Jobs
- 'Deadliest substance known to man' discovered
- New Facebook Policy Lets Teens Share More
- Jilted bride turns wedding into party for people with disabilities
- House Worker Escorted Out After Yelling During Vote
- White House: Furloughed Workers Can Return to Work
- Government Shutdown Over
- 18-foot-long sea creature found off Calif. coast
- Senator: Deal to avoid default and open government
- Furloughed Workers Can Send Creditors a Note from Government
- GOP senator says deal in hand to avoid default
- 4 dead after boat capsizes off Florida coast
- Today is Nat'l Pregnancy and Infant Loss Awareness Day
- Optimism on Ending Gov. Shutdown?
- No Deal in Government Shutdown
- Starving Dog Found Chained to a Tree
- 9 Year Old Sneaks Onto a Plane
- 6th Grade Boys Cause Hump Day Ban
- Locals Affected by Government Shutdown
Senator: Deal to avoid default and open government
Updated: Wednesday, October 16 2013, 12:54 PM EDT
WASHINGTON (AP) -- Senate leaders reached last-minute agreement Wednesday to avert a threatened Treasury default and reopen the government after a partial, 16-day shutdown, according to a Republican senator who also said congressional leaders would push for passage as soon as possible.
The New York Stock Exchange soared on the news that the threat of default was easing in, rising roughly 200 points by late morning.
"I understand they've come to an agreement but I'm going to let the leader announce that," Sen. Kelly Ayotte, R-N.H., said as she walked into a meeting of Senate Republicans called to review details of the emerging deal struck by Senate Majority Leader Harry Reid and GOP Leader Mitch McConnell.
Officials said the proposal called for the Treasury to have authority to continue borrowing through Feb. 7, and the government would reopen through Jan. 15.
Ayotte said she understood the legislation would first receive a vote in the House, an arrangement that would speed its way through Congress to President Barack Obama's desk.
Speaker John Boehner and the House Republican leadership met in a different part of the Capitol to plan their next move. A spokesman, Michael Steel, said afterward that no decision had been made "about how or when a potential Senate agreement could be voted on in the House."
The developments came one day before the deadline Treasury Secretary Jack Lew had set for Congress to raise the current $16.7 trillion debt limit. Without action by lawmakers, he said, Treasury could not be certain it had the ability to pay bills as they come due.
In addition to raising the debt limit, the proposal would give lawmakers a vote to disapprove the increase. Obama would have the right to veto their opposition, ensuring he would prevail.
House and Senate negotiators would be appointed to seek a deficit-reduction deal, but there is no provision for federal agencies to have increased flexibility in coping with the effects of across-the-board cuts.
Despite initial Republican demands for the defunding of the health care law known as Obamacare, the pending agreement makes only one modest change in the program. It requires individuals and families seeking subsidies to purchase coverage to verify their incomes before qualifying.
There were some dire warnings from the financial world a day after the Fitch credit rating agency said it was reviewing its AAA rating on U.S. government debt for possible downgrade.
John Chambers, chairman of Standard & Poor's Sovereign Debt Committee, told "CBS This Morning" on Wednesday that a U.S. government default on its debts would be "much worse than Lehman Brothers," the investment firm whose 2008 collapse led to the global financial crisis.
Billionaire investor Warren Buffett told CNBC he doesn't think the federal government will fail to pay its bills, but "if it does happen, it's a pure act of idiocy."
Rep. Steve King, R-Iowa, a tea party favorite, said he was not worried about the prospect of a U.S. default.
"We are going to service our debt," he told CNN. "But I am concerned about all the rhetoric around this ....I'm concerned that it will scare the markets."
Aides to Reid and McConnell said the two men had resumed talks, including a Tuesday night conversation, and were hopeful about striking an agreement that could pass both houses.
It was expected to mirror a deal the leaders had neared Monday. That agreement was described as extending the debt limit through Feb. 7, immediately reopening the government fully and keeping agencies running until Jan. 15 — leaving lawmakers clashing over the same disputes in the near future.
It also set a mid-December deadline for bipartisan budget negotiators to report on efforts to reach compromise on longer-term issues like spending cuts. And it likely would require the Obama administration to certify that it can verify the income of people who qualify for federal subsidies for medical insurance under the 2010 health care law.
But that emerging Senate pact was put on hold Tuesday, an extraordinary day that highlighted how unruly rank-and-file House Republicans can be, even when the stakes are high. Facing solid Democratic opposition, Boehner tried in vain to write legislation that would satisfy GOP lawmakers, especially conservatives.
Boehner crafted two versions of the bill, but neither made it to a House vote because both faced certain defeat. Working against him was word during the day from the influential group Heritage Action for America that his legislation was not conservative enough — a worrisome threat for many GOP lawmakers whose biggest electoral fears are of primary challenges from the right.
The last of Boehner's two bills had the same dates as the emerging Senate plan on the debt limit and shutdown.
But it also blocked federal payments for the president, members of Congress and other officials to help pay for their health care coverage. And it prevented the Obama administration from shifting funds among different accounts — as past Treasury secretaries have done — to let the government keep paying bills briefly after the federal debt limit has been reached.
Boehner's inability to produce a bill that could pass his own chamber likely means he will have to let the House vote on a Senate compromise, even if that means it would pass with strong Democratic and weak GOP support. House Republican leaders have tried to avoid that scenario for fear that it would threaten their leadership, and some Republicans worried openly about that.
"Of all the damage to be done politically here, one of the greatest concerns I have is that somehow John Boehner gets compromised," said Sen. Lindsey Graham, R-S.C., a former House member and a Boehner supporter.
With the default clock ticking ever louder, it was possible the House might vote first on a plan produced by Senate leaders. For procedural reasons, that could speed the measure's trip through Congress by removing some parliamentary barriers Senate opponents might erect.
The strains of the confrontation were showing among GOP lawmakers.
"It's time to reopen the government and ensure we don't default on our debt," Rep. Jaime Herrera Beutler, R-Wash., said in a written statement. "I will not vote for poison pills that have no chance of passing the Senate or being signed into law."
Associated Press writers David Espo, Andrew Taylor, Charles Babington, Stephen Ohlemacher, Henry C. Jackson and Donna Cassata contributed to this report.
House Speaker John Boehner of Ohio arrives on Capitol Hill, Wednesday, Oct. 16, 2013, in Washington. Chaos among Republicans in the House of Representatives has left it to bipartisan leaders in the Senate to craft a last-minute deal to fend off a looming U.S. default and to reopen the federal government as a partial shutdown entered its 16th day. (AP Photo/Carolyn Kaster)