All eyes on U.S. House after Senate cuts deal to avert debt default

WASHINGTON, Oct. 16 (Xinhua) -- The U.S. Senate agreed to a deal early Wednesday afternoon to raise the debt ceiling, but the clock is still ticking toward the looming deadline, as it remains unknown whether the House will vote to avoid the country's first- ever debt default.

Thursday stands as a crucial deadline -- the last day the federal government is certain to have enough money to pay its bills, and failure to raise the debt ceiling could cause all geo- economic hell to break loose, analysts said.

On Wednesday early afternoon Senate leaders said they cut a deal to avert a debt default, and Tea Party-backed senator Ted Cruz said he would not attempt to block the deal. A vote in the Senate was expected later in the day.

That may clear the way for a House vote later Wednesday, but much hinges on Obamacare. Many House members of the Tea Party have so far dug in their heels, calling for a repeal of Affordable Care Act, President Barack Obama's landmark healthcare overhaul, also known as Obamacare, as those lawmakers argue Obamacare is unaffordable and unsustainable.

As of Wednesday early afternoon, it remained unknown whether the Tea Party would continue to hold out for Democrats to make concessions to repeal parts of Obamacare in exchange for lifting the debt ceiling.

Brookings Institution senior fellow Darrell West told Xinhua that House Speaker John Boehner has lost control of his GOP caucus.

"The Tea Party members don't want anything short of the repudiation of Obamacare," he said. "That is not acceptable to the president and he would never sign a bill that undermines his top domestic achievement."

West said the only way out is for Boehner to bring the Senate bill to the floor and allow a vote. The Senate plan would lift the debt ceiling until February and end the partial government shutdown, now in its third week.