U.S. to Raise the Debt Ceiling - PowerPoint PPT Presentation

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U.S. to Raise the Debt Ceiling

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U.S. to Raise the Debt Ceiling After weeks without any hint of a potential compromise between the Obama administration and congressional Republicans over raising the ... – PowerPoint PPT presentation

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Title: U.S. to Raise the Debt Ceiling


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U.S. to Raise the Debt Ceiling
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After weeks without any hint of a potential
compromise between the Obama administration and
congressional Republicans over raising the
nation's debt ceiling, the White House may be
offering a compromise that could lead to a deal
to stop a potential default on October 17th. The
president will accept a short-term debt ceiling
increase in order to get past the potential
crisis when the government hits the 16.7
trillion borrowing limit. A short-term increase
would give Rs and Ds some breathing room, but
by itself would not address the issues preventing
an agreement. The last big confrontation over
the debt ceiling, August 2011, ended with an
11th-hour agreement under warnings of an economic
catastrophe if there was a default. Obama said he
is open to talk about his healthcare plan, but
only after Congress approves measures to end the
government shutdown and raise the U.S. debt
ceiling.
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