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Cuts that exceed the debt hike.
"He's also been clear that a 'clean' debt hike cannot pass the House.
"The speaker has made clear many times that Republicans will insist on spending cuts and reforms that exceed any upcoming debt hike," he said.
The narrower package negotiated by Mr. Biden in a series of meetings with House and Senate Democrats was still considered large enough to allow for a debt hike through most of 2012.
The president's decision came barely an hour after Ryan panned the idea of a short-term debt hike, accusing Democrats of "playing politics" with much-needed aid for Hurricane Harvey victims.
"CBO's analysis confirms that the spending cuts are greater than the debt hike – affirming that the House G.O.P. bill meets the critical test House Republicans have said they will insist upon for any bill to raise the nation's debt ceiling," said Kevin Smith, communications director for Mr. Boehner.
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"I think there'll be a be a more sizable disruption [than some debt opponents predict]," said Tony Fratto, a former George W. Bush Administration official who worked on six debt hikes.
Negotiators seemed to be shifting more towards an offer by Senate Minority Leader Mitch McConnell to leave matters in the hands of the White House, at least for shorter-term debt hikes, with Congress exercising limited veto authority.
Student anger over the proposals is fed by concerns that handing over our student debt to private companies will lead to an increase in the financial burdens placed on students and graduates, as the new owners of the debts hike up interest rates in a bid to make more profit.
When Republicans first proposed tying a debt ceiling hike to a measure to reduce the deficit, President Obama instead proposed a traditional, clean debt ceiling hike.
— The House Freedom Caucus is naming its terms for supporting a debt ceiling hike.
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