Obama Delays Request for Debt Limit Increase

HONOLULU, Hawaii (AFP)

President Barack Obama will delay asking Congress for $1.2 trillion to raise the US government’s debt ceiling to allow vacationing lawmakers time to weigh the request, officials said Friday.

But a senior White House official stressed that the decision was purely a procedural maneuver that should not spook markets and added that the Treasury would take measures to ensure the US government did not default on its debt.

The Treasury said earlier this week that the government was due to hit its debt limit of $15.2 trillion in the first week of January. Since the government would shortly be within $100 billion of that level, officials said that Obama would

request an increase.  Tip NEWS

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Karl Gotthardt - Politisite Managing Editor Maj. Gotthardt is a Retired Military Officer with 35 years service in the Canadian Armed Forces. He spent most of his time in the Military in Infantry Battalions. Karl took part in training for Afghanistan as an Operator Analyst with the Canadian Maneouvre Training Centre. Karl is a qualified military parachutist and military free fall parachutist. He earned his U.S. Master Jump Wings in Fort Benning, Georgia. Karl enjoys working with horses for the last 24 year. He owns six. He has experience in breeding, training and of course riding.Karl was born in Germany and is fluent in both English and German and he speaks enough French to "get in trouble". Karl has written or writes at NowPublic, All Voices, Tek Journalism and many others.

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