White House considers short-term debt fix to avoid economic crisis.
TL;DR Summary
The White House is open to a short-term fix to the debt ceiling as the US approaches a June default. Office of Management and Budget Director Shalanda Young indicated that the length of the fix is up for discussion, but the priority is to avoid default. The White House has warned against the catastrophic effects of a default, including an immediate recession and the loss of up to 8 million jobs. Congressional leaders are set to meet at the White House on Tuesday to discuss the matter.
- White House open to a short-term debt limit fix, OMB director says CNN
- How Americans could be affected if the debt crisis isn’t resolved NBC News
- 'The last thing that markets need': White House focuses on economic costs of default Yahoo Finance
- How a US debt crisis standoff could cause a recession - a bad one Reuters
- Scrambling to Avoid Default, White House Weighs Debt-Limit Fallback Options The Wall Street Journal
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