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JAN 18, 2013 - Business Insider

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The White House Is Relieved That Republicans Are Backing Off 'Holding The Economy Hostage' On The Debt Ceiling

House Republicans have come out of their annual retreat in Williamsburg, Va., with a new strategy on debt-ceiling negotiations: They will raise the nation's borrowing limit for three months next week to give Senate Democrats the opportunity to pass a budget. A longer-term extension in the debt ceiling would then be contingent on the Senate passing a budget — something it hasn't done in almost four years.  Here's Majority Leader Eric Cantor's full statement: "The first step to fixing this problem is to pass a budget that reduces spending. The House has done so, and will again. The ... Read More

Tags: The White House Is Relieved That Republicans Are Backing Off 'Holding The Economy Hostage' On The Debt Ceiling,  John Boehner Latest News