NEWSMAX: Republicans in the House of Representatives may press only for a short-term extension of U.S. borrowing authority to keep up pressure for significant spending cuts, House Budget Committee Chairman Paul Ryan said Thursday. ..
“We’re discussing the possible virtue of a short-term debt limit extension, so that we have a better chance of getting the Senate and White House involved in discussions in March.”
The first of the fiscal deadlines, the exhaustion of federal borrowing capacity, will happen sometime between mid-February and mid-March. The second deadline, the delayed launch of automatic spending cuts, will occur on March 1. And a third deadline comes on March 27, as Congress must enact new funding for government agencies and programs… (more)
EDITOR: This is the equivalent of bluffing into a pat hand.
