Meanwhile, our business live blog is tracking the September jobs figures that came out just now and it’s not looking good.

The US economy expected to add 500,000 more jobs in September, but in reality added just 194,000 jobs.

Follow here for more information:

Democrats are drawing a line in the sand when it comes to the raising the debt limit again in the next few weeks.

Republicans have said from the start that they want Democrats to raise the limit “on their own” via budget reconciliation, a lengthy and cumbersome process that will stymie the Democratic legislative agenda.

Congress at most is allowed to go the budget reconciliation route just three times a year, and Democrats have already used it to pass a $1.9tn Covid-19 relief bill and are now trying to use to pass Biden’s $3.5tn “human infrastructure” reconciliation bill to boost safety net, health and environmental programs.

In addition, the Democrats have the battle for voting rights ahead of them.

Senate Chris Coons is coming out strong in saying that Democrats won’t use reconciliation to deal with the debt ceiling. “We didn’t do it this time, won’t do it next time,” he said.

The Hill
(@thehill)

Sen. Chris Coons: “Senator McConnell has put out a statement that he expects over the next six weeks we will use reconciliation to deal with the debt ceiling. We won’t. We didn’t do it this time, we won’t do it next time.” pic.twitter.com/1s1x5oZJT7

October 8, 2021

Here is the White House statement on Senate passing yesterday the deal to raise the debt limit by $480bn through 3 December. From White House press secretary Jen Psaki:

Tonight’s votes are welcome steps forward in averting a default that would have been devastating for our economy and for working families. President Biden looks forward to signing this bill as soon as it passes the House and reaches his desk. His focus remains on the task before us of swiftly passing his economic agenda and making vital investments in jobs, competitiveness, and lower prices for the middle class.

These votes underscore that raising the debt limit is a shared responsibility to pay for debts incurred in the past by Presidents and Congresses of both parties – debt that has nothing to do with President Biden’s fully paid-for economic agenda. As we move forward, there must be no question of whether America will pay its bills; Congress must address the debt limit in December and beyond – just as we’ve done almost 80 times over the last 60 years. Eleven Republicans did their part tonight, ending the filibuster and allowing Democrats to do the work of raising the debt limit. As we approach the coming months, we hope that even more Republicans will join Democrats in responsibly addressing the debt limit instead of choosing default or obstruction.

We cannot allow partisan politics to hold our economy hostage, and we can’t allow the routine process of paying our bills to turn into a confidence-shaking political showdown every two years or every two months.

Hello, live blog readers. Happy Friday.

We’re not done with the debt limit deal yet – and, of course, let’s all remember, we won’t be done with the debt limit for a while as we’ll have to do this all again in a few weeks because the deal only extends the debt ceiling by $480bn through 3 December.

With a 50-48 vote, the Senate approved the deal Thursday night to extend the government’s borrowing authority, with the House coming back from recess early to vote on it Tuesday.

Politico is reporting that “a shouting match” erupted on the Senate floor after the vote, with Republican senators Mitt Romney and John Thune none too pleased with majority leader Chuck Schumer and what they thought was an ungracious speech.

Here’s video of the heated exchange – Schumer is sitting to the middle left when he is approached by Romney and Thune.

Jeremy Art
(@cspanJeremy)

.@playbookdc @politico leads with “shouting match” on Senate floor after debt limit vote when Senators Romney and Thune confronted Senate Majority Leader Schumer.

Here’s the @cspan clip. pic.twitter.com/tWC072o8j3

October 8, 2021

Schumer had lambasted the Republicans for playing a “dangerous and risky partisan game” and said Democrats were able to “pull our country back from the cliff’s edge that Republicans tried to push us over.”

The Hill
(@thehill)

.@SenSchumer: “Our caucus held together and we pulled our country back from the cliff’s edge that the Republicans tried to push us over.” pic.twitter.com/RG7hexV2Wi

October 8, 2021

The Republicans had twice used the filibuster to block the Democrats from raising the debt limit, and were threatening to do it once again before the deal. Their argument was that Democrats needed to raise the limit “on their own” via budget reconciliation, a lengthy and cumbersome process that would have consequences for the Democrats’ future legislative agenda.

Democrats then essentially bluffed by threatening a change to the filibuster rules, after which minority leader Mitch McConnell offered up the deal.

Frank Thorp V
(@frankthorp)

THUNE, who voted yes on cloture said of Schumer’s speech: “I thought was totally out of line”

“I just thought it was incredibly partisan speech after we had just helped them solve a problem,” he said.

“I let them have it,” he said.

October 8, 2021

Burgess Everett
(@burgessev)

Romney went up to Schumer after his speech to express his displeasure. Schumer hammered Republicans during his speech

Romney explained it this way: “there’s a time to be graceful and there’s a time to be combative. That was a time for grace and common ground”

October 8, 2021

Centrist Democratic senator Joe Manchin could be seen putting his head in his hands during Schumer’s address, which he later called “inappropriate”.

Caitlin Emma
(@caitlinzemma)

Manchin: “Chuck’s frustration was there. But that was not a way to take it out. We just disagree. I’d have done it differently.”

Claims he did *not* say it was a f–king embarrassment. https://t.co/nJnH2HK6hA

October 8, 2021

Meanwhile, top Senate Republicans are now advancing a disinformation campaign over the debt ceiling, distorting the reasons for needing to raise the nation’s borrowing cap, Hugo Lowell reports.

Read more here: