Obama Would Accept Short-Term Debt Limit Deal To Allow Congress Time To Pass A "Grand Bargain"

Photo: The White House/Pete Souz

White House Press Secretary Jay Carney said President Barack Obama would accept a short-term extension of the debt limit ceiling, if it allowed Congress time to act on a larger deal.Obama had opposed any short-term debt ceiling deal, though the change in tune reflects the growing realisation that a “big deal” the President demands cannot be completed in full by August 2nd.

Carney maintained that Obama believes that if Congress demonstrated “a willingness to back a big deal,” then one could be completed before the deadline. He that Obama would still push a major deficit reduction package after August 2nd.

Carney added that “if House members listen to all their members, not just the ones w/the “loudest voices,” they would find support for balanced plan, along the lines of the “Gang of Six” plan introduced yesterday.

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