U.S. House Republicans propose temporary short-term debt ceiling increase

U.S. House Speaker John Boehner said on Thursday (Friday in Manila) that Republicans planned to offer a temporary short-term debt ceiling increase to negotiate with Democrats, a major breakthrough to solve the fiscal impasse that has resulted in a partial federal government shutdown.

"What we want to do is to offer the president today the ability to move, a temporary increase in the debt ceiling, in agreement to go to conference on the budget," Boehner said at a press conference.