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Paul Ryan said House Republicans may seek a short-term extension of the government^BENT^0027^EENT^s debt limit in the next few weeks, which would avoid immediate default by the Treasury.
J. Scott Applewhite/ASSOCIATED PRESS
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Date published: 1/18/2013
AP Special Correspondent
WILLIAMSBURG--House Republicans may seek a quick, short-term extension of the government's debt limit, a move that would avoid an immediate default by the Treasury as the party seeks to maximize leverage in negotiations over spending cuts with President Barack Obama this spring, officials said Thursday.
"All options are on the table as far as we're concerned," Rep. Paul Ryan of Wisconsin said at a news conference during a three-day retreat of the rank and file. He said private discussions focused on how best to "achieve progress on controlling our deficits and controlling our debt."
Ryan declined to say how long an extension of the government's borrowing authority is under consideration, or what conditions might be attached. Obama has said repeatedly that he favors additional deficit savings yet he will not negotiate spending cuts as part of an agreement to raise the current $16.4 trillion debt limit. Some Republicans have suggested they may seek unspecified reforms rather than reductions, perhaps trying to force the Democratic-controlled Senate to approve a budget.
The debt limit is one of three deadlines that Congress and the administration will confront this spring. Across-the-board spending cuts begin in early March, and the government runs out of funding for many agencies and services on March 27. By contrast, there is no fixed date for raising the debt limit, since the Treasury has not yet notified Congress when it will exhaust all other measures to stay current with its bills.
Republicans gathered for their retreat at a secluded golf resort a two-hour-plus drive from the Capitol after an awkward beginning to the new Congress.
On Jan. 3, Rep. John Boehner of Ohio drew dissenting votes from nine fellow Republicans in winning a new term as speaker, while one voted present and two abstained.