Date : 07 Ekim  2013 Pazartesi - 18:16, Category : BUSINESS

Sperling spoke a day after House of Representatives Speaker John Boehner, a Republican, took a hard line on the deadlock that has shut down the government and threatens an unprecedented default as early as Oct. 17, saying he would not raise the debt limit without a concession from the president.

Holding up an increase in the debt limit in exchange for political concessions would set a dangerous precedent, Sperling said.

"You know how this goes," he said. "It will be used time and again, and there will be payback if there is a Republican president."

Sperling and White House Council of Economic Advisers Chairman Jason Furman said there is no easy recourse if Congress does not raise the $16.7 trillion debt ceiling. The White House believes that language in the U.S. Constitution does not give the president authority to raise the debt limit unilaterally.