National News Alert

Republicans propose suspending federal debt limit for four months

House Republicans are now proposing to ignore the federal debt limit altogether -- at least until May 18.

The House plans to vote Wednesday on a measure that would leave the $16.4 trillion debt limit intact, but declare that it "shall not apply" from the date the measure passes until mid-May. This novel approach would let Republicans avoid a potentially disastrous fight over the debt limit without actually voting to let the Treasury borrow more money.

Read more at:
http://www.washingtonpost.com/business/economy/house-republicans-plant-to-keep-debt-limit-but-suspend-it-until-may/2013/01/22/14bc4f3e-64ae-11e2-85f5-a8a9228e55e7_story.html