Republicans Offer Three-Month Increase In Debt Ceiling | WAMU 88.5 - American University Radio

NPR : News

Filed Under:

Republicans Offer Three-Month Increase In Debt Ceiling

In a move that could head off another bruising battle over increasing the nation's debt ceiling, GOP leaders in the House plan to approve a three-month increase in the nation's borrowing authority next week, NPR's S.V. Date reports.

But, he tells our Newscast Desk, Republicans want to tie a longer-term increase to the passage of a budget that cuts spending.

His report continues:

"The plan comes from Majority Leader Eric Cantor as House Republicans wrap up a retreat in Southern Virginia.

"Cantor writes that the three-month extension would give time for the Senate to pass a budget, which it hasn't done in four years. Further, if Congress fails to pass a budget, House members and senators would not get paid until they did.

"President Obama has insisted on a longer-term increase in the borrowing authority because short-term increases would be disruptive to the financial markets.

"It's not yet clear how the Democratic-controlled Senate would react to a three-month increase. The Treasury has projected it will be unable to pay the nation's bills as early as mid-February unless something is done."

The Washington Post writes that "a spokesman for Senate Majority Leader Harry M. Reid, D-Nev., said Friday that it was 'reassuring to see Republicans beginning to back off their threat to hold our economy hostage.' Spokesman Adam Jentleson said the Senate would 'be happy to consider' an increase in the debt ceiling that arrives without conditions. He did not address how the Senate would treat the House's proposal to tie member pay to the passage of a budget."

Copyright 2013 National Public Radio. To see more, visit http://www.npr.org/.

NPR

Gold-Plated Gowns And 8-inch Pumps: The Stuff That Made Starlets Shimmer

Actress Mae West was petite, but on screen — thanks to a pair of platform shoes — she looked larger than life. A show in Boston examines the fashion and jewelry of Hollywood's golden age.
NPR

Nigella Lawson Loves Leftovers And Knows How To Use Them

If you don't want to eat endless turkey sandwiches, there's plenty else you can make. David Greene talks to cookbook author Nigella Lawson about what to do with your Thanksgiving leftovers.
NPR

Pentagon Expected To Release More Detainees From Guantanamo

Since the midterm elections, there has been a new batch of transfers from Guantanamo Bay, Cuba, and more releases are in the works. But a new GOP Congress could stall the drive to empty Guantanamo.
NPR

Millennial Doctors May Be More Tech-Savvy, But Is That Better?

Text messages from your doctor are just the start. Millennials are the next generation of doctors and they're not afraid to say "chillax" in a consultation or check Twitter to find medical research.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.