My what a difference a week makes.
Last week Barack Obama, the biggest spender in the history of earth, said he would not accept a short term deal.
The Obama administration signalled it may accept a short-term increase in the U.S. debt limit if it is combined with a major agreement to cut the deficit.
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“The president has been clear that he will not support a short-term extension of the debt ceiling” without an agreement to cut the deficit, White House spokesman Jay Carney told reporters today. President Barack Obama plans to meet with top congressional Democrats today as the Aug. 2 deadline for raising the US$14.3-trillion debt limit nears.
While the deadline is “real and fast,” the press secretary said, “there is still time to do something significant if all parties are willing to compromise.”
PS – Obama has no plan.