US House Republican meeting on Capitol Hill, Oct. 4, 2013
Republicans in the US House of Representatives are considering a short-term fix to increase the government™s borrowing authority, a GOP leadership aide said.
Members of the Republican Study Committee, the most conservative bloc in the House, have said they intend to extend the debt limit for a short time only if there is an agreement with President Obama on a boarder spending framework.
The GOP hopes to buy time for negotiations on broader policy measures after Obama said he would “absolutely” accept a non-binding debt ceiling increase of limited duration.
Republicans™ focus of demands has shifted in the recent days from the Affordable Care Act, also known as Obamacare, to deficit reduction measures.
“Clearly, Republicans want to avoid default,” Rep. Kevin Brady (R-Texas) said, adding they also want to cut spending.
Speaking with reporters on Tuesday, Obama reiterated that he does not plan to negotiate with Republicans until a spending bill is passed and the debt ceiling is raised.
An Associated Press-Gfk survey on Wednesday showed Americans™ approval rating for Congress has dropped to a record low 5 percent while more than six of every 10 Americans blamed the Republicans for the fiscal impasse.
On October 1, the US government partially shut down operations as congressmen refused to agree on a temporary spending bill that would keep the federal government funded.
Meanwhile, the US Treasury Department says the government™s current debt ceiling of $16.7 trillion will be reached by Oct. 17.
House Speaker John Boehner said through a spokesman that Republicans will attend a meeting at the White House on Thursday. Obama has invited the full caucus but Boehner said only a small group of negotiators will be sent.
“Nine days into a government shutdown and a week away from breaching the debt ceiling, a meeting is only worthwhile if it is focused on finding a solution,” Boehner’s office said. “It is our hope that this will be a constructive meeting and that the president finally recognizes Americans expect their leaders to be able to sit down and resolve their differences.”
Veterans Affairs Secretary Eric Shinseki warned Wednesday that millions of veterans could soon lose their benefits payments if the shutdown continues.
The Pentagon has also announced it was forced to turn to charity organizations in order to fund $100,000-death benefits for families of US soldiers recently killed in Afghanistan.
In a report on global financial stability on Wednesday, the International Monetary Fund called on Washington to raise its debt limit before a default damages the world economy.
AN/ISH
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