House GOP backs off default threat
(MCT) — WILLIAMSBURG, Va. — House Republican leaders abruptly announced they will vote next week to temporarily extend the nation’s debt limit, sharply reducing the threat that the government might default on its obligations, but leaving the party still divided as it casts about for the best way to pressure President Barack Obama for more budget cuts.
The move Friday by Republican leaders, who have been holed up for days at an annual retreat at a snow-dusted private resort in Virginia, is a turnaround for the party. Until recently, Republicans had touted the debt ceiling as a prime point of leverage they could use in their battle with Obama over spending.
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