Washington, Oct 12: US President Barack Obama thinks that the government’s borrowing authority should be raised for longer than six weeks to remove uncertainty for the economy, the White House said Friday.
A short-term debt ceiling deal would put the US in the same situation like the current fiscal impasse, reported Xinhua citing Jay Carney, the White House spokesperson.
Before a White House meeting with Obama Thursday, US House Republicans floated an idea of a six-week debt ceiling increase to avert a debt default crisis.
As the first government shutdown in 17 years drags on into its 11th day, Washington faces another fiscal deadline.
US Treasury Secretary Jacob Lew has told Congress the federal government will reach its debt ceiling of $16.7 trillion by Oct 17, and that failure to raise it would lead to a catastrophic default.
Obama spoke over telephone with US House Speaker John Boehner earlier Friday, with both sides agreeing to continue the fiscal talks, Carney said.