The White House said today that President Obama would not veto a House Republican plan to suspend the debt limit for three months, even though the president thinks a temporary solution is far from ideal.
“The Administration would not oppose a short-term solution to the debt limit and looks forward to continuing to work with both the House and the Senate to increase certainty and stability for the economy,” the White House said in an official statement of policy released today.
The House plans to vote tomorrow on a bill to suspend the nation’s $16.4 trillion debt limit until mid-May, giving Congress more time to negotiate over the limit. The bill would also require the House and Senate to pass a budget. If either chamber failed to pass a budget, according to this proposal, their congressional salaries would be withheld.
“All we’re saying is, if the president and the Senate, if this country needs to incur more debt, Senate, please show us your plan to repay that debt, please show us your plan to control spending,” House Majority Leader Eric Cantor, R-Va., said this evening. FULL ARTICLE
- White House: Obama Won’t Veto GOP Short-Term Debt Limit Plan (wibw.com)
- GOP goes into complete surrender mode on debt (conservativelyspeaking.us)
- GOP Caves on Debt Ceiling Fight, Giving Obama Big Victory (atlantablackstar.com)
- Geithner: We Shouldn’t Have a Debt Limit, Eliminate It (conservativeread.com)
- White House: Obama wouldn’t block GOP debt bill (modbee.com)
- John Boehner vows to attempt another debt limit hostage crisis (dailykos.com)
- House to raise debt ceiling on time rather than value (hotair.com)