Obama Delays Request for $1.2T Debt Limit Increase

Friday, 30 Dec 2011 01:24 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

HONOLULU — President Barack Obama is delaying his petition for another $1.2 trillion increase in the nation's debt limit at the request of congressional leaders.

The White House had been ready to ask for the increase today because the government is within $100 billion of exhausting its current borrowing authority. Congress has 15 days to reject the request, though Obama would veto their objection.

If Obama had requested the increase today, Congress would have still been on vacation during that 15 day window. A senior White House official says congressional leaders asked the White House to delay the request so members would have time to voice their opinions.

The official, who requested anonymity because this person wasn't authorized to speak publicly, says Obama will make his request within days.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Republicans Call For Swift Action Against ISIS

Tuesday, 02 Sep 2014 21:28 PM

Republican lawmakers sounded a clarion call for quick, decisive action against Islamic State (ISIS) militants after the  . . .

Obama Sending 350 More Troops to Protect US Embassy in Baghdad

Tuesday, 02 Sep 2014 21:03 PM

President Barack Obama has ordered about 350 more troops to Baghdad to protect the U.S. Embassy in the Iraqi capital and . . .

Ex-NSA Chief: JPMorgan Hack May Be a Warning From Putin

Tuesday, 02 Sep 2014 20:57 PM

Hackers who stole gigabytes of data from JPMorgan Chase Co. may have been trying to send a message that U.S. financial . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved