OVERNIGHT MONEY: Deal or no deal?

The bad news? Even if momentum builds up behind an amenable plan — one to get the government back open while increasing the $16.7 trillion debt limit — it could be derailed by any one senator who doesn't like it, pushing the nation right past its designated Thursday default deadline.

Treasury Secretary Jack LewJack LewOne year later, the Iran nuclear deal is a success by any measure Chinese President Xi says a trade war hurts the US and China Overnight Finance: Price puts stock trading law in spotlight | Lingering questions on Trump biz plan | Sanders, Education pick tangle over college costs MORE has warned Congress that the nation's coffers will drop to $30 billion in cash by Oct. 17, and could be in danger of being unable to pay all its bill beyond that point. 

As it stands, the boiled-down Senate deal would raise the nation's debt ceiling until Feb. 7 and would immediately reopen the government and fund it until Jan. 15 at $988 billion.

In addition to opening the government and raising the debt ceiling, the deal between Senate Majority Leader Harry ReidHarry ReidThis obscure Senate rule could let VP Mike Pence fully repeal ObamaCare once and for all Sharron Angle to challenge GOP rep in Nevada Fox's Watters asks Trump whom he would fire: Baldwin, Schumer or Zucker MORE (D-Nev.) and Senate Minority Leader Mitch McConnellMitch McConnellMcConnell’s gambit to save the Supreme Court paid off Overnight Healthcare: High drama for ObamaCare vote | Freedom Caucus chair 'optimistic' about deal | Trump woos right High drama for ObamaCare vote MORE (R-Ky.) would create the all-elusive House-Senate budget committee to come up with a replacement for automatic sequestration cuts. 

That group would have to report back to Congress by Dec. 13.

Democrats are also considering including language to require income verification for people applying for subsidies through healthcare insurance exchanges set up under the Affordable Care Act.

We'll see what Tuesday brings. 


Debt ceiling talk: House Financial Services Committee ranking member Maxine Waters (D-Calif.) will chat on Tuesday with an impressive group of financial industry representatives about the economic implications of breaching the $16.7 trillion debt ceiling. 

Waters will gather the experts who have been out front of the debate, warning policymakers about the potentially devastating consequences of failing to raise the debt limit before Thursday. 

They include Jim Chessen, of the American Bankers Association; Scott Talbott, of the Financial Services Roundtable; Rob Toomey, with the Securities Industry and Financial Markets Association; Marie Cavanaugh, of Standard & Poor’s; Mike Williams, with the American Securitization Forum; and a representative from the AFL-CIO. 


— Wall Street rebounds on meeting

— Panetta: Obama needs to engage

— Poll: Fewer than half of Republicans approve of party's budget strategy

— Dems decry midnight rule change

— IRS: No confidential tax info shared in ObamaCare discussions

— White House: Shutdown stifling US exports

Brinksmanship in Washington doing economic damage

— Bowles, Simpson urge Washington to make a deal

— Economic confidence plummets

— Corker: Republicans are 'in a bad place’

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