White House spokesman Jay Carney said the president would accept a short-term measure to raise the debt limit as part of a broader deficit reduction plan, conceding that extra time may be necessary for a sweeping bill to work its way through the legislative process.
Yesterday, Mr Carney said: "The President does not support a short-term extension of the debt limit, period.First thoughts: One of the first things you need to figure out as a parent is that in order for things to go smoothly in your household you need to set firm well defined boundaries. Consistency in following the rules and reinforcing those boundaries lets everyone know just where they stand and demonstrates caring thoughtful leadership in the family. The same goes for a presidency. When you don't set clear boundaries and consistently follow the rules you get stuff like the following.
"The only exception to that is in the event that both sides reach a deal on a long-term extension of the debt limit plus significant deficit reduction, and we needed a very short-term extension to allow a bit of extra time for a bill to work its way through the legislative progress." With time running out, a temporary increase in the borrowing limit is looking more likely.
Until now, Mr Obama has firmly opposed any short-term measure on the debt limit, saying he wants an extension that takes the US government past the presidential election in November next year and into 2013.
Mr Obama argues the issue should not be kicked down the road, and congress needs to tackle hard issues now.
"If not now, when?" he said last week.
Deal Not Close, White House, GOP Leaders Say
WASHINGTON—The White House and top Republican leaders denied reports that President Barack Obama and House Speaker John Boehner were close to a "grand bargain" on the budget, news that jolted stock prices and boosted the dollar.
The markets moved after a Democratic aide said Messrs. Obama and Boehner were close to a deal that would include around $3 trillion in deficit-reduction measures, and wouldn't raise taxes. This drew prompt denials from both ends of Pennsylvania Avenue.
Reports of a deal, first in The New York Times, moved stock prices higher.
Stocks surged to fresh session highs, with the Dow Jones Industrial Average rising as much as 180 points to 12751, and the dollar jumped modestly against the Japanese yen and the Swiss franc. By early afternoon trading, the Dow average was up 160 at 12732.
Steve Wynn, a Nevada casino magnate and, incidentally, a Democrat and supporter of Sen. Harry Reid, D-Nev., has blamed the policies of President Barack Obama for the unwillingness of business to invest and hire workers.Maybe we need to send some behavioral therapists to Washington DC to teach some folk how to lead effectively starting with our current President.
According to the Wall Street Journal, Wynn said: "Everybody complains about how much money is on the side in America. You bet. And until we change the tempo and the conversation from Washington, it is not going to change. And those of us who have business opportunities and the capital to do it are going to sit in fear of the president. And a lot of people don't want to say that. They say, oh God, don't be attacking Obama.
"Well, this is Obama's deal. And it is Obama that is responsible for this fear in America. The guy keeps making speeches about redistribution and maybe we ought to do something to businesses that don't invest, they are holding too much money."