Ryan: GOP to Offer Bill 'Suspending' Borrowing, Not Raising Debt Ceiling

Friday, 20 Sep 2013 11:52 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
House Republicans will consider a measure next week that would suspend the U.S. borrowing limit instead of raising it by a specific amount, according to Representative Paul Ryan, the chairman of the House Budget Committee.

Republican leaders will seek to attach several provisions to the measure that would reduce the federal budget deficit in the long run, Ryan said.

The measure will look “at debt over the long term, and that is what matters the most,” Ryan, a Wisconsin Republican, told reporters in Washington today.

Editor's Note: Should ObamaCare Be Defunded? Vote in Urgent National Poll

President Barack Obama has called for a debt-limit increase without conditions, and said he won’t negotiate on the issue.

Ryan highlighted means testing for entitlement programs such as Medicare as one of the changes that Republicans are considering as additions to the debt-limit bill.

“Some things like means testing may not save you a lot upfront but saves you a lot of money in the long run and does the most to help reduce the debt than, say, cutting discretionary spending,” Ryan, his party’s 2012 vice presidential candidate, said.

The measure won’t specify by how much the cap will be increased, rather it will allow the government to borrow for a specified amount of time, probably for a year, according to Representative Tom Cole, an Oklahoma Republican.

Republicans also plan to attach to the measure a one-year delay of Obama’s health-care law, instructions for revamping the federal tax code, an authorization for constructing the Keystone XL pipeline, and reductions in government regulations.

-


© Copyright 2014 Bloomberg News. All rights reserved.

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

Rep. Larry Bucshon: Dems Must 'Put Aside Politics,' Fix Economy

Saturday, 30 Aug 2014 07:26 AM

Obama administration economic policies make no sense for the jobless and millions of Americans struggling to make ends . . .

Sen. John Barrasso Mocks John Kerry's Climate Change Fears

Friday, 29 Aug 2014 22:23 PM

Secretary of State John Kerry ought to focus more on the immediate and deadly threats to the United States from around t . . .

Democrats Keep Obama at Distance Ahead of Mid-Term Elections

Friday, 29 Aug 2014 22:00 PM

Barack Obama's Democrats are walking a tightrope 10 weeks before US congressional elections: do they solicit the unpopul . . .

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