White House Won’t Accept Short-Term Debt Ceiling Hike
White House senior adviser David Plouffe emphasized that the White House is unwilling to accept any deal that does not provide a long-term debt ceiling hike.
“This debt ceiling cloud has harmed our economy. Why on earth would we want to go through this again in the next few months?” Plouffe said on Meet the Press.
Plouffe indicated that the White House is hoping the proposed joint super-committee — which will recommend steps to balance the budget this November if a debt ceiling hike deal is achieved — will urge a “balanced” approach that includes tax hikes.
He did not divulge specific details about what the White House wants the enforcement mechanism to be if Congress does not pass the recommendations of the joint super-committee in November. (Right now, the discussion is about what will automatically go into effect if Congress cannot pass the recommendations – should there, for instance, be defense and Medicare cuts that go into effect if new cuts and/or tax hikes aren’t passed?) Plouffe did say the White House wanted triggers that “that compels both parties to act” on the super-committee’s recommendations.