October 10th, 2013
12:37 AM ET
8 years 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.

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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)

    Six weeks is no tlong enough, And you have the Holidays coming up; better go a minimum of three months

    October 10, 2013 07:39 am at 7:39 am |
  2. jimbo

    In 1998 Russia defaulted. They just shrugged and ostensibly said we are bankrupt and won't pay any debts, including to the World Bank and IMF. Then people thought Russia's credibility was gone. Is it? No. Russia recovered, commodity boom made them rich and none of their creditors saw a single payment. The US should default and cram its debts down or settle them for materially less. Nations in the modern world have done this. Default and the pain is front ended, then done with. Then shrink the military albatross expense.

    October 10, 2013 07:39 am at 7:39 am |
  3. JimNamsium

    Oh goodie. This way we can go through this again in another month.

    October 10, 2013 07:42 am at 7:42 am |
  4. cog in the wheel

    I certainly agree with Rep. King....like it or not, the debt ceiling needs to be raised to pay the bills we have already incurred.

    October 10, 2013 07:44 am at 7:44 am |
  5. Catmandew

    Out president is a liar and the house doesn't trust him. If the debt limit gets raised he will just continue spending till he hits it again. He can't get a budget passed and just continues to spend its gotta stop!

    October 10, 2013 07:47 am at 7:47 am |
  6. guy

    as a member of the tea party this sounds like you are giving in stand your ground obama and the dem's are getting ansy.if you do give in then i will stop voting for anyone of you.

    October 10, 2013 07:48 am at 7:48 am |
  7. g

    stop foreign aid and corporate welfare for a few years and pay off the debt.joe down the street did not ship his job overseas

    October 10, 2013 07:54 am at 7:54 am |
  8. Maripil

    The house GOP are now shaking in their boots as they are losing the argument as they are fighting among themselves not knowing what they are demanding for! Republicans are such losers!

    October 10, 2013 07:57 am at 7:57 am |
  9. Don, Toronto

    I remember former Congress man Ted Kennedy saying, "You won't always get the whole pie all at once but if you keep on taking a slice or two, you will eventually end up with the whole or most the pie. So if the Republicans want a stop gap time period over which the debt ceiling would be raise and for some negotiation, agree to it Democrats but also request that the government be reopen for the same time period also as it will set a bad precident for the executive branch of government to negotiate with a group of domestic terrorist/hostage takers (Ted Cruz and company) in the Congress.

    October 10, 2013 07:57 am at 7:57 am |
  10. markfromdover

    4-6 weeks only? What a bunch of hacks!

    October 10, 2013 07:58 am at 7:58 am |
  11. Larry

    Great – short term fix so we can be held hostage all over again in a month or so. Thank you GOP morons for all the damage you are doing to the economy. Never vote republican again – EVER.

    October 10, 2013 07:59 am at 7:59 am |
  12. RL

    I have an idea. Why doesn't every furloughed government employee who lives in and around DC go to the capital and block the doors, entrance to the garage, and not let these bastards out until they reopen the government. It will give the employees something to do to earn their paycheck while they are sitting home.

    October 10, 2013 08:02 am at 8:02 am |
  13. Elmer P.

    Translated, Boehner is really saying "pull my finger".

    October 10, 2013 08:06 am at 8:06 am |
  14. nanners

    Crook. Thief. Terrorist. Criminally insane. The joker is holding the world hostage, and you bumbleheads voted him in!

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

    Pelosi is soo on top of everything. Please GOD let her retire soon...

    October 10, 2013 08:09 am at 8:09 am |
  16. Anonymous

    They, house republicans should be arrested for breaking the law (Obamacare) was negotiated and they are breaking the law and trying to punish the american people.

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

    Oh, and take Harry Reid with her...

    October 10, 2013 08:10 am at 8:10 am |
  18. GN Swartworth

    Try #DoYourJob instead. You all were elected to help run our government and no one is getting it done. #Forget CRs. Fiscal years should never begin without a budget in place. Homes cannot function that way and our government should not function that way either. It isn't as if Congress hasn't had plenty of time to achieve what it was elected to do.

    October 10, 2013 08:10 am at 8:10 am |
  19. Name jk. Sfl. GOP conservatives,the garbage of America.

    Blame the GOP idiots for this shut down,the GOP better enjoy their last year in office before their train wreck in nov 2014!!!!!!

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

    and then we raise it for another 4 to 6 weeks and everyone remains stressed and has no confidence... and then we raise it for another 4 to 6 weeks and everyone remains stressed and has no confidence... and then we raise it for another 4 to 6 weeks and everyone remains stressed and has no confidence... welcome to the normal. wonderful.

    October 10, 2013 08:11 am at 8:11 am |
  21. Don

    Amazingly CNN, MSNBC and ABC are not reporting to their low information fans, about Obama's IT problems on "Obamacare." Wait until Obama's affirmative action workers, (Navigators,) access your health records.

    October 10, 2013 08:11 am at 8:11 am |
  22. James

    Wow, it's been so long. I cannot remember when the last time was that the GOP actually had a plan of any kind other than "OBAMA'S WRONG!!!"

    October 10, 2013 08:12 am at 8:12 am |
  23. Sadie Boyd

    Boehner needs to step down as speaker of the house, he is no leader...he is an obstructionist and something is terribly wrong with him...OMG, he is orange! Orange people? Is he real?

    October 10, 2013 08:13 am at 8:13 am |
  24. jimmiek

    Any progress, no matter the amount, is good.

    October 10, 2013 08:13 am at 8:13 am |
  25. Texasmike

    What kind of asinine plan allows raising the debt ceiling but keeps the gov't shutdown? We already know Republicans are Tea Party nuts but this continued idiocy is silly. Sounds like the extortioners are dropping their gun but keeping a knife to our throats.

    October 10, 2013 08:14 am at 8:14 am |
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