FILE - This Jan. 15, 2013 file photo shows House Speaker John Boehner of Ohio walking on Capitol Hill in Washington. Republican leaders scramble for votes on a stopgap debt-limit measure that would let the government keep borrowing until at least mid-May, giving up for now on trying to win spending cuts from Democrats in return. But the respite would be only temporary, with major battles still to come between the GOP and President Barack Obama over taxes, spending and deficits. (AP Photo/J. Scott Applewhite, File)
FILE - This Jan. 15, 2013 file photo shows House Speaker John Boehner of Ohio walking on Capitol Hill in Washington. Republican leaders scramble for votes on a stopgap debt-limit measure that would let the government keep borrowing until at least mid-May, giving up for now on trying to win spending cuts from Democrats in return. But the respite would be only temporary, with major battles still to come between the GOP and President Barack Obama over taxes, spending and deficits. (AP Photo/J. Scott Applewhite, File)
FILE - This Dec. 28, 2012 file photo shows President Barack Obama speaking to reporters in the Brady Press Briefing Room at the White House in Washington. Republican leaders scramble for votes on a stopgap debt-limit measure that would let the government keep borrowing until at least mid-May, giving up for now on trying to win spending cuts from Democrats in return. But the respite would be only temporary, with major battles still to come between the GOP and President Barack Obama over taxes, spending and deficits. (AP Photo/Charles Dharapak, File)
WASHINGTON (AP) ? Republicans controlling the House are moving quickly to try to defuse a potential debt crisis. They're offering legislation to prevent a first-ever default on U.S. obligations for three months or more.
The Republicans are giving up for now on trying to extract spending cuts from Democrats in return for an increase in the government's borrowing cap. The respite promises to be only temporary, with the stage still set for major battles between the GOP and President Barack Obama.
The first step comes with a House vote on legislation that will give the government enough borrowing leeway to meet three months' worth of obligations. That will delay a showdown that Republicans fear they would lose.
The legislation is disliked by Democrats, but the administration says it won't oppose it.
Associated Pressx factor x factor john kerry eastbay Samantha Steele Dec 21 2012 doomsday
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.