Obama may be open to short-term debt ceiling hike

WASHINGTON (AP) — A senior Obama economic adviser is suggesting that the White House would be open to a short-term increase in the nation’s borrowing authority. But the adviser, National Economic Council Director Gene Sperling, says a long-term extension of the debt limit would be better for the economy.

Sperling says the size of the increase is up to Congress. Asked if a two- or three-week extension would be out of the question for the White House, Sperling said, quote, “Longer is better for economic certainty and jobs, but it is ultimately up to them.”