WASHINGTON (Reuters) - The White House plans to ask Congress for an increase in the debt limit before the end of the week, according to a senior Treasury Department official.
The debt limit is projected to fall within $100 billion of the current cap by December 30. President Barack Obama is expected to ask for additional borrowing authority to increase the limit by $1.2 trillion.
Under the new budget, Congress can only vote to block the debt-ceiling extension with a disapproval resolution. Lawmakers have 15 days within receiving the request to vote down the debt limit increase.
The debt limit currently stands at $15.194 trillion and would increase to $16.394 trillion with the request.
(Reporting By Margaret Chadbourn; Editing by Neil Stempleman)
Debunking The "Declining Number Of Gun Owners" Lie - Bearing Arms - Gun Ownership, gun sales
Ann Coulter - The Problem Isn't Guns Or White Men
Moderates Are the Problem in the House GOP | RedState
- Vladimir Putin’s Russia Adopts Concealed Carry
The Problem Isn't Guns Or White Men | Human Events
Report: Boehner phones Paul Ryan, asks him to run for Speaker — or else he might stay on as Speaker himself
Paging Mitt Romney: Kremlin openly mocking the White House by releasing secretly taped meeting