Obama Blinks, Now Open to Temporary Debt Ceiling Hike

Tue Oct 8, 2013 AT 6:00 AM EDT

A top advisor to President Obama indicated he would sign a bill to temporarily increase the federal debt limit to give Republicans and Democrats more time to reach agreement for a long-term fix, reports the Wall Street Journal. Speaker Boehner took to the House floor to warn President Obama that he was putting the nation’s economy at risk by refusing to negotiate. President Obama followed by daring Boehner to allow an up-or-down vote in the House on a “clean” funding bill. And a columnist at Bloomberg opined that a debt default would be worse for the economy than the demise of Lehman Brothers which set off the Great Recession.

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