WASHINGTON (Reuters) – The White House said on Saturday it “strongly supports” a bill being considered in the House of Representatives that incorporates both Democratic and Republican ideas and would raise the debt limit to early 2013.
“It is imperative that the United States not default on the nation’s obligations,” the Obama administration said in a policy statement. “If the bill were presented to the president, his senior advisors would recommend that he sign it.”
The bill would require two-thirds approval in the Republican-controlled House to pass.
(Reporting by Alister Bull and Laura MacInnis)
Source: Reuters US Online Report Top News