Republicans Hint at Raising the Debt Limit Sooner Rather Than Later

“(Reuters) – Republicans in the Congress on Tuesday signaled a willingness to raise the country’s credit limit “sooner rather than later” and avoid a series of short-term measures that could damage the economy.

In the face of intense pressure from business groups for a prompt and tidy handling of a statutory increase in how much the government can borrow, House of Representatives Speaker John Boehner told reporters, “Why wait” until the last minute for Congress to pass legislation. He added that he would rather address the matter “sooner rather than later.

The United States is on the verge of hitting its credit limit, which is now capped at $14.3 trillion.

But Republicans did not step back from their demand that any increase in U.S. borrowing authority be accompanied by serious spending reductions.”

Full article