White House gives grudging welcome to debt limit plan
WASHINGTON (AFP) - The White House said on Tuesday that President Barack Obama would not block a Republican plan to extend government borrowing authority by three months but would prefer a longer term debt ceiling hike.
Defusing a showdown with Mr Obama, Republican House leaders are ready to permit the government to borrow more money to meet its obligations until May 18, despite earlier demands that debt ceiling hikes be matched by spending cuts.
The move would effectively remove the debt ceiling question from a looming conflagration with Republicans on Capitol Hill over spending cuts due to come into force at the end of next month and a soon-to-expire government budget.
White House spokesman Jay Carney noted that the debt ceiling workaround still had to make it past opposition from some conservative Republican members of Congress.