White House: Forget a Short-Term Lift

Politics Reuters

The White House remains opposed to any short-term increase in the debt limit, unless a broader deficit-cutting deal is agreed and needs time to be voted through Congress, a White House official said Friday.

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``Our position has not changed,'' the official said.

Unless still-divided Republicans and Democrats find a way to agree to raise the $14.3 trillion debt ceiling by Tuesday, the United States will run out of borrowing authority and face a real threat of credit rating downgrade and debt default.

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