Congressional leaders may have more time to work out a deal this fall to increase the federal borrowing limit, after new projections from Congress' scorekeeper showed tax revenues have been greater than expected this year. [...] In July, the Treasury Department estimated the government would hit its $18.1 trillion borrowing limit at the end of October. CBO, however, now projects the debt ceiling will not need to be increased until mid-November or early December, while noting there is a level of uncertainty when determining the exact date.
[The debt-ceiling] deadline is nearing. And the mixture of an ongoing presidential campaign – which encourages lawmakers to play to their base -- and the itching for more spending cuts from conservative groups suggests it won't pass without drama. [...] Asked if he expected debt-ceiling fireworks, longtime GOP consultant Craig Shirley replied: "Without a doubt."