White House: Obama Wouldn't Block GOP Debt Bill

The White House says a House Republican bill to extend the government's borrowing authority for three months still faces concerns in Congress but press secretary Jay Carney says that if it reaches President Barack Obama's desk, "he would not stand in the way of the bill becoming law."

The White House in the past has voiced reservations about a short-term debt ceiling extension. But on Tuesday, Carney said the three-month plan by House GOP leaders is significant because it "de-escalates the sense of conflict."

The government is on track to surpass its $16.4 trillion debt limit in late February or early March. Congressional Republicans had initially wanted to use a vote to extend the debt ceiling as leverage to win spending reductions, creating the threat of a first-ever government default.

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