October 10, 2013
U.S. House of Representatives Republicans are considering signing on to a short-term increase in the government’s borrowing authority to buy time for negotiations on broader policy measures, according to a Republican leadership aide.
How long the increase might suffice – a few weeks or a few months – was unclear. But agreement by Republicans and Democrats to raise the debt ceiling would at least stave off a possible default after October 17, when Treasury Secretary Jack Lew has determined the government will no longer be able to borrow.
President Barack Obama has said he would accept a debt ceiling increase of limited duration as long as no strings were attached, except perhaps a non-binding agreement to discuss policy issues.