In a briefing with reporters today at House Republicans’ retreat in Williamsburg, Va., Rep. Paul Ryan said that the House GOP is discussing a possible “short-term debt limit extension,” but that the “worst thing for the economy” would be a lift in the debt ceiling without any spending cuts.
Ryan suggested the lift in the debt ceiling could be extremely short, so that it could be addressed with another fiscal battle — the sequester — in March.
Ryan also urged President Barack Obama to prioritise payments under the debt limit to ensure there is no default on the country’s obligations.
Some tweets from reporters on the ground in Virginia:
The debt ceiling’s “X date” is projected to hit sometime between Feb. 15 and March 1. On Monday, President Barack Obama said that he would not negotiate with Congressional Republicans, who he said were holding “a gun at the head of the American people.”
House Speaker John Boehner was the first to suggest that the GOP might look at a series of incremental lifts in the debt ceiling as opposed to a more long-term hike. That means there could be more frequent battles over the country’s debt and spending attached to the debt ceiling.
Ryan’s comments marked his extensive comments to the press since he and Mitt Romney lost the election in November.
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