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


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.