WASHINGTON, Jan. 22 (UPI) — President Obama would sign a Republican-backed measure suspending the U.S. debt ceiling through mid-May if it lands on his desk, a spokesman said Tuesday.
White House press secretary Jay Carney told reporters the president would not block such legislation but would prefer a long-term solution.
The United States hit its $16.4 trillion debt limit New Year’s Eve, forcing Treasury Secretary Timothy Geithner to use accounting tricks to keep U.S. payments current. Geithner has warned he cannot keep up the actions indefinitely.
The House was scheduled to vote Wednesday on suspending the debt ceiling through May 19.
The administration issued a policy statement saying it was encouraged by the measure, which “lifts the immediate threat of default and indicates that congressional Republicans have backed off an insistence on holding the nation’s economy hostage to extract drastic cuts in Medicare, education, and other programs that middle-class families depend on. For these reasons, 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.”
Carney noted the president has always said it is bad for the economy to raise the debt ceiling in increments.
Carney praised Republicans for backing away “from the kind of brinkmanship that was very concerning to the markets, very concerning to business, very concerning to the American people.”
Carney said Obama is willing to “negotiate in good faith” to reduce deficit spending.
“The president will not negotiate over Congress’ responsibility to pay the bills that Congress has already incurred. That is true today. It will be true in three months. It will be true for as long as he’s president,” Carney said.
“He has always indicated his interest in and desire to work with, engage with and negotiate with Congress over how we continue to reduce our deficit in a responsible, balanced way, and he will do that.”
On another front, The Hill reported the conservative Club for Growth has decided against scoring the debt ceiling suspension plan, removing some pressure from GOP legislators who have been squeezed by their leaders and outside interests.
Copyright 2013 United Press International, Inc. (UPI).
idiot, really thats all it is
it is obvious sickastupd doesnt have a clew people dont waste your time with this idiot
Sorry, honey bunch. I DO have a “clew”. And you know it.
Michelle is going to have to make more cuts in the school lunch programs so they can take more vacations this term.
How many times has Congress passed a budget and all accompanying spending bills in the last sixty years?
Anybody?
Four times. That’s right, pants on fire gang, FOUR TIMES.
The budget hysteria is, as usual, another republican game.
Do we need a budget? Yes. Is it as vital as oxygen? Uh, no.
It’s just been a never ending stream of spending bills to pay the bills already owed. And around and around we go.
And it has nothing to do with socialism, deism, realism or any other kind of ism, Katie. Good god.
Stoopid, where did you get your data on the budgets. I haven’t been able to find that info and it doesn’t ring true to me.
@katty: The government financial accounting service. Look it up. I don’t doubt you find it hard to believe. Facts are not your friend.
Speaking of facts, here’s another fun fact for you – the last Republican pres to have a balanced budget was Eisenhower. There have been TWO, count ’em, TWO Democratic presidents who have presided over balanced budgets since then. So stick that in your pipe and smoke it.
Also, in the last 40 years there have been FIVE budget surpluses – all under Dems. Repubs? ZERO.
And you know where you can stick that one.
Of course he wants to raise the debt ceiling without a budget. What other perfect way to ruin a capitalistic society and turn it into a more socialistic one. In 4 more years, we will barely recognize this country’s economic structure. We’ll be giving 100% of our income to the government and we’ll all have to live on “entitlements”.
I truely doubt what you said here. You are using the teapublican stump speeches of which most are either lies or 1/2 truths. The sky isn’t falling
If you don’t believe what others believe then it is all lies. What a waste of perfectly good air.
At least they are doing something. Hopefully they will continue to debate and resolve.
If it’s true Osama Obama has always wanted to reduce our debt in a responsible, balanced way why has the Democratic controlled Senate not passed a budget in four years and why has our debt increased four trillion dollars under his watch. He is the true master of bs and the controller of the new deadbeats for democrats party.