Debt Ceiling

Obama "Happy That Cooler Heads at Least Seem To Be Prevailing in the House"

Jay Carney responding to news of GOP debt limit increase proposal

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President Barack Obama "is happy that cooler heads at least seem to be prevailing in the House" over the need to avoid a possible default if Congress fails to raise the debt limit soon, White House spokesman Jay Carney said Thursday when asked about a GOP proposal for a short-term increase in the federal borrowing limit.