WYMT | Eastern KY | News, Weather, Sports

GOP moves to delay debt-ceiling showdown 3 months

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.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
WYMT CONTACT INFO 199 Black Gold Blvd. Hazard, KY 41701 606-436-5757 - switchboard 606-439-9968 - newsroom
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 187938401 - wkyt.com/a?a=187938401
Gray Television, Inc.