U.S. Senate Majority Leader Reid is pictured following a meeting with U.S. President Obama at the White House in WashingtonWASHINGTON (Reuters) – Senate Democrats will insist on "smooth" payments to boost the federal debt restrict and restore executive funding which can be free of prerequisites, Senate Majority Chief Harry Reid stated on Thursday. "We will act on a easy debt ceiling," Reid told journalists. The Treasury has forecast that it will exhaust all of its borrowing capability on October 17 if Congress fails to lift the $sixteen.7 trillion U.S. debt restrict, placing the US vulnerable to a historical default that economists say would cause major turmoil in world monetary markets and economies. (Reporting By means of David Lawder)