Obama receives short-term increase of debt ceiling from Republicans
Newscast Media WASHINGTON—Republicans in the US lower house have proposed a
short-term increase to the debt ceiling. President Barack Obama has indicated
willingness to sign a temporary measure into law, signaling a potential compromise.
House Speaker John Boehner (pictured above) said on Thursday that Republicans
would propose a temporary increase in the US debt limit, but only if President Obama
agreed to negotiate over the ongoing government shutdown.
“Listen, it’s time for leadership,” Boehner told reporters after meeting his party
colleagues from the House of Representatives.
“What we have discussed as a conference is a temporary extension of the debt
ceiling – in exchange for a real commitment by this president and the Senate majority
leader to sit down and talk about the pressing problems that are facing all the
“That includes a broad array of issues,” the house speaker said.
Meanwhile, the White House called Boehner’s proposal an “encouraging sign.”
The current US debt ceiling of $16.7 trillion is fixed until October 17. If Congress fails
to raise the ceiling before then, the US will be unable to borrow additional money to
pay down past debts. That would put the federal government in a state of default for
the first time in its history.
While raising the debt ceiling was standard procedure in the past, House Republicans
- influenced by its conservative Tea Party caucus – have threatened not to raise the
ceiling in order to gain negotiating leverage with the president.
Source: Deutsche Welle