O's Donkey over a barrel!

President Obama is open to a proposal for a short-term increase in the debt ceiling, but still prefers a longer-term bill, the White House said Thursday.

"The president is happy that cooler heads at least seem to be prevailing in the House,  that there at least seems to be a recognition that default is not an option," press secretary Jay Carney said. But, he added, "the president believes that it would be far better for the Congress, and in this case the House, to raise the debt ceiling for an extended period of time."

Carney wouldn't rule out the prospect that Obama would nonetheless sign a short-term extension. "We have seen nothing, obviously no proposal, from House Republicans yet. There's no bill to look at," he said, and the details of a proposal that can pass the House are important. 

For more information... http://www.politico.com