Events moving fast in Congress: the shape of things to come?

The next two days in Congress will be characterised by fast-moving developments on the government shutdown/debt ceiling issues.

As of this morning the situation is as follows:

A bipartisan group of senators has been working on a proposal that would likely do the following: (1) government funding will be extended through mid-January 2014 and the debt ceiling raised through 7 February; (2) the regular budget process will be restarted with a requirement that House and Senate negotiators agree on a budget plan by mid-December; and (3) a further debt and spending extension will depend on agreeing to a budget plan and implementing it…

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