During a press conference today, House Minority leader Nancy Pelosi signaled that she supported “unilateral control” for the President over the country’s debt limit.
“Do you support President Obama having the power to unilaterally increase the debt limit as Secretary Geithner proposed?” asked a reporter.
“Yes,” Pelosi answered shortly.
Treasury Secretary Timothy Geithner proposed the idea to Congress yesterday, but the idea was reportedly met with laughter from Senate Minority leader Mitch McConnell R-Ky.
Currently the power to increase the debt ceiling lies with Congress. President Obama fought with Congress over extending the debt ceiling throughout the latter part of 2011, a fight he clearly is looking to avoid this year.