Barack Obama

Obama Would Sign House Bill on Debt Ceiling

According to White House


WASHINGTON, Jan. 23 (UPI) — President Barack Obama would sign a House Republican plan to ignore the U.S. debt ceiling for four months, the White House said ahead of a House vote Wednesday.

The GOP bill would declare the $16.4 trillion debt ceiling "suspended" and therefore "shall not apply, until May 19."

The move, which The Wall Street Journal called "a legislative sleight of hand," would let the U.S. Treasury Department keep borrowing money to pay its bills but would not require lawmakers to vote on actually raising the debt ceiling.