Q13 FOX Season of Giving

Start of a thaw? Boehner offers temporary debt ceiling increase

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WASHINGTON — House Speaker John A. Boehner on Thursday floated a proposal for a six-week extension of the federal debt limit — no conditions attached — but it was unclear if his fellow Republicans would support it.

Even some GOP leaders on Boehner’s team balked at the proposal because it failed to include any of the party’s demands for cutting spending or blocking President Obama’s healthcare law.

The proposal would not reopen government agencies currently closed for lack of funds.

boehner no damn gameThe White House panned the idea because it did not include a reopening of government agencies, but indicated that the short-term nature of Boehner’s plan would be acceptable.

“Congress needs to pass a clean debt limit increase and a funding bill to reopen the government,” a White House official said in a statement.

“Once Republicans in Congress act to remove the threat of default and end this harmful government shutdown, the President will be willing to negotiate on a broader budget agreement,” the official said.

Despite the continued sharp rhetoric in Washington, financial markets rose sharply on indications that a deal was in the works.

Earlier in the day, Treasury Secretary Jacob J. Lew repeated his warnings that failure to raise the debt ceiling by Oct. 17 could “deeply damage” the economic recovery and “the jobs and savings of millions of Americans.”

For more on this LA Times story, click here.

 

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4 comments

  • Anonymous

    Interesting that Republicans are compromising but not Democrats. Let’s review how this whole shutdown happened and then see who’s responsible.

    1. House submits budget stripping funding from Obamacare (because guess what, vast majority of Americans don’t want it! Who’s doing the will of the people now?)

    2. Senate rejects it and sends bill back to House

    3. House creates bill that delays Obamacare 1 year, just like major corporations get a delay.

    4. Senate rejects it and sends it back to the House with full funding re-instated.

    5. House creates bill that requires all must participate in Obamacare, NO waivers (sorry unions and politicians!)

    6. Senate rejects it and sends it back to the House with full funding re-instated.

    So, who’s being a spoiled brat? Hmmmm

  • guest

    how about a package that stops spending more than we have? this debt ceiling thing is a bubble that will burst and cause us more ruin than we've ever seen. basic economics, balanced budget, pay DOWN debt.

  • The World is Ending

    This is why we need to move the salaries of elected officials to the last line of the budget, and have a law that they CAN'T be paid with borrowed money, and that during any shutdown their salaries are the first thing cut, and if a special session is necessary then they lose 10% of their salary every day of the special session and if it extends past ten days then they can start paying… let's see how their so called principals are when it actually starts costing them money.

  • Joe

    There is no such thing as dept ceiling, Obama went from 8 trillion dept to 17 trillion in 5 years, the rats have resorted to true form, again.