President Barack Obama would sign legislation to raise the debt ceiling for three months if Congress approves such a bill, White House spokesman Jay Carney said Tuesday, according to USA Today.
According to David Jackson’s report, Carney said a short-term deal would bring down the sense of conflict between the White House and Republicans in Congress.
Some Republican lawmakers have proposed using the debt ceiling to try and get the Obama administration to agree on more spending cuts, Jackson reports.
According to the Wall Street Journal, the government has increased the debt ceiling 39 times since 1983, including five times in October 1990.
More than 25 of those increases lasted less than one year, the Journal reports.
Damian Paletta writes the government will no longer be able to pay all of its bills by February or March unless Congress acts.