October 10th, 2013
12:37 AM ET
1 year ago

Sources: House GOP to unveil short term debt ceiling increase as soon as Thursday

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Washington (CNN) - Multiple House Republican members and GOP leadership sources tell CNN that leaders are preparing a proposal to raise the debt ceiling temporarily while keeping the government shut down.

The sources tell CNN that House GOP leaders' plan is to formally discuss the idea with the GOP conference at a meeting Thursday morning.

Senior House Republican sources have been telling CNN since earlier this week the idea of raising the debt ceiling for four to six weeks is the most viable way out of the stalemate.

A House Democratic lawmaker told CNN on Wednesday evening that President Barack Obama held a private White House meeting. In it, he said he would likely agree to a short term debt ceiling deal if that's what Republicans would support in order to avoid default, the lawmaker said.

Talking about a short term solution, the president told House Democrats, "If that's what (House Speaker John) Boehner needs to climb out of the tree that he's stuck in, then that's something we should look at," according to the House Democratic member.

WH Official: Obama will sign short term debt ceiling extension

After hearing that, as well as public comments of support from House Democratic leader Nancy Pelosi, House Republican sources say they decided it's time to push the idea with rank and file Republicans, especially since they hope to discuss the idea with the president in a White House meeting Thursday afternoon.

One of the GOP sources cautioned that the exact length of the short term debt ceiling bill is not yet worked out. It could be six weeks; it could be a bit shorter.

Senior House Republicans are hoping the idea of allowing a short term increase in the debt ceiling - but not immediately agreeing to fund the government - will placate conservatives.

Earlier, House GOP sources told CNN any stop gap debt ceiling increase would have to be accompanied by a guarantee for negotiations over issues relating to the nation's debt.  Republicans will still demand this, but it is unclear how specific they will be in laying out the parameters of those talks as a condition to raising the debt ceiling temporarily.

Sen. Angus King, I-Maine, said on CNN on Wednesday night that he does not think a short term increase in the debt ceiling is a good idea because it only delays the problem.

"Well, it's just going to make the markets skittish for another six weeks or whatever," he said. "I don't see why we can't just get that off the table. We don't have to speculate. I understand there are people who basically are denying that this is going to be a real problem. We don't have to speculate on that".

But King also said he would support it if it's the only option to avoid defaulting.


Filed under: GOP • House
soundoff (164 Responses)
  1. Cruz'sConscious

    Kick the can!

    October 10, 2013 08:14 am at 8:14 am |
  2. McRCN

    The truth of the matter this is all political theater for fundraising for both parties and positioning for the next election cycle. The debt ceiling has been raised about 48 times in the last 40 years. The debt ceiling is going to be raised dozens of times in the years to come since the end of debt as we know it is not going to end anytime soon.

    October 10, 2013 08:14 am at 8:14 am |
  3. MaryM

    Boehner, Put the clean CR on the House for a vote, NOW

    October 10, 2013 08:14 am at 8:14 am |
  4. JohnQ

    I cannot wait to vote against the Republicans in the upcoming elections!!!

    October 10, 2013 08:15 am at 8:15 am |
  5. jake

    Republicans speaking at a news conference with people behind them looks like Wall Street.
    Obama speaking at a news conference with people behind him look like Main Street.
    Picture is worth a thousand words folks.

    October 10, 2013 08:16 am at 8:16 am |
  6. gnamp

    Keep trying GOP keep trying ...

    October 10, 2013 08:16 am at 8:16 am |
  7. oreo

    kick the can, how surprising!

    October 10, 2013 08:17 am at 8:17 am |
  8. Cynthia Gurin

    So Republican Tea Party imbeciles can drag this idiocy out? So they can totally trash the holiday sales season for retailers? So they can continue making everybody even more miserable and disgusted with them than we are now? So the lemmings in suicide vests can come up with even more hostage demands?

    October 10, 2013 08:18 am at 8:18 am |
  9. Maripil

    The GOP are so divided that they really not know what they want! In their confusion they can't seem to get their act together! I hope these guys get booted out in 2014!

    October 10, 2013 08:19 am at 8:19 am |
  10. Charles Brewster

    5 % will make anyone think about losing their high paying job?!!!!

    October 10, 2013 08:20 am at 8:20 am |
  11. Maximus

    Kicking th can..again, and again..

    October 10, 2013 08:21 am at 8:21 am |
  12. Rosa

    It's better than nothing but I still don't think they will get their way on ACA in 6 weeks. They get to look stupid again in 6 weeks. That can't be all bad either.

    October 10, 2013 08:21 am at 8:21 am |
  13. Jim

    Canadian jobs report for August is 60,000. USA for the same period is 170,000, but Canada has 1/10th the population and health care.

    October 10, 2013 08:21 am at 8:21 am |
  14. Disgusted

    Cowards, all of them

    October 10, 2013 08:22 am at 8:22 am |
  15. Shawn Maness

    Anyone notice the clearly pro-democrat media coverage of nearly every article? President Obama's approval rating is at 37%. This the guy who anointed himself as 'The one we've all been waiting for'. Look we have a leadership issue in this country, and congress is not the leader of this country. We have a guy in the white house who is clearly winging it and his only talent appears to be falsifying information, or just down right hiding it. I'd say some of these stories should be about the real possibility of impeachment. The man is killing us on foreign policy, and most are coming to realize what a fiasco his claim to fame Obamcare is. Realize that your on the wrong side of this liberal's, Liberal media, time to cut ties.

    October 10, 2013 08:23 am at 8:23 am |
  16. ME

    28%
    25%
    22%
    19%
    16%

    GOP..Tea Party Show-offs......GOING GOING......finally....hopefully.......dissipate into infinity and beyond!!

    October 10, 2013 08:26 am at 8:26 am |
  17. SokrMom

    Republican Congressmen are just acting as spoilers these days–and what they are spoiling is all of our lives.

    October 10, 2013 08:26 am at 8:26 am |
  18. Al-NY,NY

    I can't wait to see what the Weepy Tan Man is gonna propose this time...I wonder.....

    October 10, 2013 08:26 am at 8:26 am |
  19. Clyde

    Why work out a short deal? So we can just have another huge fight in 4 or 6 weeks? This is congress's MO – kick the can down the road for a few weeks just to keep the fight going. Obama should insist on a deal that lasts until the end of his presidency. If he doesnt get it he should invoke the 14th and let the chips fall where they may.

    October 10, 2013 08:27 am at 8:27 am |
  20. reed20fence

    The sooner we all realize that this mess is about leveraging everyone's respective positions for favorable results in the election in 4 weeks, the better.

    The Republicans, no thanks to partisan gerrymandering, will gain a handful of seats in the House, and parlay that into a mandate to defund Obamacare.

    Every institution that depends on fair statewide elections will stand in the way of them doing so.

    October 10, 2013 08:28 am at 8:28 am |
  21. sj4iy

    This is worse than not doing anything, because they then pretend they are doing something. What about the thousands of people out of work? It's going to become millions soon if they don't do something to end this ridiculous charade. For all of their claims of supporting small businesses, they are destroying many of them right now by letting this go on and on. I don't want to see the problem delayed...I want to see it resolved. Destroying our economy, our livelihoods and our country to prove a point is a horrible way to govern, and I will make sure that my leaders are dumped out come next election. I only wish I could do it right now and get some people in there with some sense.

    October 10, 2013 08:28 am at 8:28 am |
  22. smith

    Yeah, time to come to a deal. Both parties and the president are losing with this shutdown.

    October 10, 2013 08:29 am at 8:29 am |
  23. sbm

    Hold steady Repulicans hold steady

    October 10, 2013 08:31 am at 8:31 am |
  24. Robert Lemasters

    Whole industrial sectors off-shored and millions of jobs outsourced, the national economy looted with immunity in three of the largest theft of wealth in history, unfunded wars, free trade deals that only favor foreign and global interests, war and military profiteering much of which is fraud, collusion between bribed elected career politicians and everyone with cash from Wall Street to the Mexican drug cartels lobbying for citizenship rights for their US employees and gang members...until these and other root causes of our economic decline are solved our Republic and Main Street economy with decline further. Here in our region our economy has worsened without any sign of recovery, with the exception of Communist China buying our last large industries and transportation infrastructure for which the politicians I am sure have been richly rewarded somehow, and our housing market is again sliding after the investors bought what was still valuable.

    October 10, 2013 08:32 am at 8:32 am |
  25. Steve

    Methinks the GOP is about to cease to exist as a viable political party.

    October 10, 2013 08:32 am at 8:32 am |
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