Obama open to short-term deal on debt ceiling. Here are five ideas.
The scramble on Capitol Hill to come up with a solution to the nationâ€™s debt crisis produced a surprise announcement from the White House Wednesday: Contrary to previous statements, President Obama would support a short-term deal to raise the debt ceiling.
White House Press Secretary Jay Carney added an important caveat, however. The president would only sign the short-term deal if it was a means to buy time to finalize a longer-term deal without running afoul of the Aug. 2 deadline.
Suddenly, Washington is awash in prospects for short term deals. Here are five:
1. Short-term fix, long-term deal
This is the presidentâ€™s new line in the sand: He'll back a short-term fix only to buy time for longer-term reform.
The new framework requires first that both sides â€śagree to something significant, then take the time needed to finalize details," Mr. Carney said on Wednesday. But there can be no extension without â€śa firm, committed agreement on something big,â€ť he added.
By short term, the White House means days, not weeks or months.
1 of 5