Tags: Barack Obama | Economic- Crisis | White House | Daley | Coburn | short-term | debt

White House, Coburn Duel Over Short-Term Deal Idea

By Newsmax Wires   |   Sunday, 24 Jul 2011 10:35 AM

President Barack Obama's chief of staff, Bill Daley, says the president will veto any last-minute debt package from Congress unless it extends the nation's borrowing limit into 2013. But “Gang of Six” member Tom Coburn, R-Okla., counters that the president will get a short-term deal — and he'll have to settle for it.

The dueling positions came forth during interviews on NBC’s “Meet the Press” this morning.

As top lawmakers scramble for a deal on the debt, Daley said the White House is open to a two-step process in which some deficit savings would be agreed upon later this year or early next year.

"This has to be two steps," he said during his “Meet the Press” appearance. "But the second step must get us through '13 without having to go through this ridiculous fight over extending the debt ceiling."

Also on “Meet the Press,” Coburn decried that White House stance as "a ridiculous position because that's what he's going to get presented with."

Coburn, a member of the bipartisan Gang of Six working on a deal, said he is confident that an accord will be finalized before the Aug. 2 deadline, but he insisted that it will be short term.

"I understand why they are saying they won't sign a short term but I think they won't have any choice and I think that's the answer right now," Coburn said.

Daley said the White House wants a deal struck that would raise the debt ceiling by enough so that another vote is not needed before the November 2012 elections.

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