Debt Ceiling Increase: Obama, Republicans May Be Near A Deal

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Debt Ceiling Increase: Obama, Republicans May Be Near A Deal
White House (Pete Souza) [Public domain]

Lawmakers may be close to a temporary resolution on the debt ceiling issue. Republican House Speaker John Boehner said today that that they would vote to increase the debt ceiling temporarily. That would enable the nation to keep borrowing money for the next six weeks. However, they still want the government shutdown to continue as they negotiate with the president and Democrats over budget issues.

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Debt Ceiling Increase: Obama, Republicans May Be Near A Deal

Obama open to a temporary debt ceiling increase

During today’s press briefing, President Obama’s press secretary Jay Carney said the president is open to a proposal for a temporary fix on the debt ceiling. However, he recommended that Congress push for a long-term solution rather than a six-week answer. Carney stopped short of saying that the president would sign the short-term extension. He said the White House would hold back judgment until the actual proposal is received and reviewed.

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Carney said at this point there isn’t a bill to look at, and it’s the details of the proposal which are important. According to Carney, Obama will sign a “clean” bill to raise the debt ceiling.

Obama pushing for debt ceiling and government shutdown to be resolved

The president has been pushing Republicans to solve both of the two issues facing lawmakers right now, suggesting that he wouldn’t go to the bargaining table without a resolution to both problems. However, he hasn’t ruled out signing the temporary solution to just one of the problems. According to NBC News, if the debt ceiling is extended without conditions, this may be some sort of a concession to the president.

Boehner plans to present their offer to President Obama later today at the planned meeting between House Republicans and Obama. According to Reuters, although the offer will allow the debt ceiling to be raised, it would keep the U.S. Treasury from using “extraordinary measures” to keep borrowing after it hits the next limit.

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Michelle Jones is editor-in-chief for ValueWalk.com and has been with the site since 2012. Previously, she was a television news producer for eight years. She produced the morning news programs for the NBC affiliates in Evansville, Indiana and Huntsville, Alabama and spent a short time at the CBS affiliate in Huntsville. She has experience as a writer and public relations expert for a wide variety of businesses. Email her at Mjones@wordpress-785388-2679526.cloudwaysapps.com.
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