(CNN) Everyone on Capitol Hill -- Republicans and Democrats, leaders and chairmen and chairwomen -- is saying the right thing publicly about the efforts to reach a sweeping two-year budget and debt ceiling agreement. But being close to an agreement isn't an agreement, and the clock is quickly becoming the enemy of a long-term resolution. Bottom line: The happy talk coming from all corners is, according to people directly involved in the talks, merited. Treasury Secretary Steven Mnuchin has requested the chamber pass a debt ceiling increase or suspension before departing in order to avoid a scenario where the US government, quite literally, runs out of money before Congress returns in September. Leaving town for a month and coming back with just days to address the debt ceiling before the government runs out of money is the polar opposite of how Democrats have handled the debt ceiling for years.

Source: CNN July 17, 2019 13:41 UTC