Temporary debt limit hike possible

Senate Minority Leader Mitch McConnel has indicated that it is possible that the White House and Republicans will kick the debt ceiling can down the road a couple of months if both sides are unable to come to an agreement. Reuters: McConnell said on Sunday the ceiling could be raised enough to last a few months so that negotiations can continue on a larger deal that would include changes to so-called entitlement programs like Medicare. "The president and the vice president, everybody knows you have to tackle entitlement reform," McConnell said on CBS's "Face the Nation." "If we can't do that, then we'll probably end up with a very short-term proposal over, you know, a few months. And we'll be back having the same discussion again in the fall," McConnell said. Vice President Joe Biden is leading negotiations with congressional Democrats and Republicans who are trying to agree on how to narrow huge budget deficits and raise the debt limit so the United States can avoid defaulting on...(Read Full Post)