Conservatives Raise Pressure on Debt Ceiling Issue

Conservative Republicans in the House are adamant that the $14.3 trillion debt ceiling shouldn’t be increased. And the Republican Study Committee (RSC) proposed a bill Wednesday that would prevent the Treasury Department from having to default on government debt even as the current debt limit is maintained, The Hill reports.

The bill shows that Republicans aren’t giving in to the Obama administration’s warning that failure to raise the debt ceiling would lead to a default on government debt, possibly triggering a financial crisis. The proposal also demonstrates that conservatives aren’t willing to toe the line with Republican leaders who have said the party will have no alternative in the end to approving an increase in the debt limit.