Ryan: GOP Considering Short-Term Debt-Limit Increase

[Valin]

NewsMax:

1/17/13

 

Republicans in the House of Representatives may press only for a short-term extension of U.S. borrowing authority to keep up pressure for significant spending cuts, House Budget Committee Chairman Paul Ryan said Thursday.

 

Ryan, breaking a public silence since his failed vice presidential bid in the November election, said the Obama administration can and should prioritize payments to avoid a debt default in the event that an increase in the federal debt limit is delayed.

 

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"We believe that it would be wrong if we walk out of this spring with no achievement on debt reduction whatsoever because that will hurt the country, that will hurt the economy," Ryan said.

 

Among options under consideration are a short-term increase in the debt limit, Ryan said without specifying a time frame.

 

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