Boosts Debt Ceiling For a Few Weeks

“Obama would be open to bill that boosts debt ceiling for a few weeks, top White House official said on Monday – could buy time for congressional Republicans and White House to find way to end current series of fiscal fights. National Economic Council Director Gene Sperling said that how much to raise the debt ceiling is up to Congress. “It is the responsibility of Congress to decide how long and how often they want to vote on doing that, the important thing is that they not threaten default and that they not put our country on the brink of that,” he said. The Treasury Department says the debt ceiling will need to be raised by Oct. 17 in order to avoid the risk that the government will default on its obligations. Sperling’s remarks, however, signaled there may be a way to buy some time beyond that date while Republicans and the White House wrangle over re-opening the government and avoiding a government default. Later in the day, White House press secretary Jay Carney echoed Sperling’s comments telling reporters that “our position has never been to say that the debt ceiling ought to be raised for a certain amount of time.”

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