White House: Obama Backs Bill Divorcing Debt Ceiling, Sequestration Fights
January 22, 2013
President Obama will not stand in the way of a House Republican plan to delay action on the U.S. debt ceiling by three months, the White House announced Jan. 22.
The House on Jan. 23 is slated to vote on a measure that essentially would allow Washington to borrow an unlimited amount of funds through early May. The legislation, oddly, does so in order to allow conservative House members to avoid voting in favor of a debt-ceiling hike.
“Although [the GOP bill] is a short-term measure and introduces unnecessary complications, needlessly perpetuating uncertainty in the nation’s fiscal system, the [Obama] administration is encouraged that [the bill] lifts the immediate threat of default and indicates that congressional Republicans have backed off an insistence on holding the nation’s economy hostage to extract drastic cuts in Medicare, education, and other programs that middle-class families depend on,” the White House said in a statement of administration policy document.