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Obama receives short-term increase of debt ceiling from Republicans



by Joseph Earnest October 11, 2013


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 American people."

"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.  Add Comments>>

Source: Deutsche Welle






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