House GOP considering short-term debt ceiling hike?

Negotiators in the Biden talks are looking for a way to increase the debt ceiling enough so that it does not need to be raised again until the end of 2012, after the next election. Kyl said that timeline would require a debt-ceiling increase of $2.4 trillion.

But Kyl said the GOP would look to a shorter-term increase in the debt ceiling if the talks fail to produce more than $2.5 trillion in cuts.

“If we can’t get about two and a half trillion in real savings, then I don’t think there’d be much of an appetite on our side to raise the debt ceiling by $2.4 trillion,” he told reporters Tuesday.