From the FT:
Republicans are gearing up for a new fight with President Barack Obama over the need to lift America’s borrowing limit early next year, raising concerns that the fiscal truce established in last week’s bipartisan budget deal may be shortlived.
Paul Ryan, Republican chairman of the House budget committee, said his party planned to demand concessions from the White House in exchange for raising the country’s debt ceiling. Republicans would meet in January to discuss the options.
“We don’t want [to get] nothing out of this debt limit. We’re going to decide what it is we’re going to accomplish out of this debt limit fight,” Mr Ryan told Fox news on Sunday.
The budget deal he crafted with Patty Murray, a Democratic senator, dramatically reduces the threat of a government shutdown over the next two years and unwinds some of the budget cuts introduced in March under “sequestration”.
Many view the pact as marking the end of three years of vicious fiscal battles on Capitol Hill, but Mr Ryan’s comments suggest that tensions could flare up again soon and dealing a blow to the global economy as early as the first quarter of next year.
Some people never learn!
