Reuters: Politics: White House says Congress must raise debt limit

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White House says Congress must raise debt limit Jan 4th 2013, 15:18 Tweet Share this Email Print Related News Bigger fights loom after "fiscal cliff" deal Thu, Jan 3 2013 WRAPUP 3-Bigger fights loom after U.S. 'fiscal cliff' deal Wed, Jan 2 2013 Wall Street starts new year with a bang after "cliff" deal Wed, Jan 2 2013 WRAPUP 13-United States avoids calamity in 'fiscal cliff' drama Wed, Jan 2 2013 WRAPUP 7-'Fiscal cliff' tumble looms despite U.S. Senate efforts Mon, Dec 31 2012 Analysis & Opinion The fiscal cliff deal proves Congress is working 'Cliff' deal is one part relief, one part frustration for Fed Related Topics Investing and Taxes Simplified » Politics » The dome of the U.S. Capitol is seen in Washington September 25, 2012. Credit: Reuters/Kevin Lamarque WASHINGTON | Fri Jan 4, 2013 10:18am EST WASHINGTON (Reuters) - The White House said on Friday it is vital for Congress to quickly resolve future tax and spending feuds, and raise the U.S. borrowing authority to avoid economic uncertainty. "It is quite clear that the economy will be better if Congress does its job and does what it routinely has done historically which is raise the debt limit without problem," Alan Krueger, chairman of the White House Council of Economic Advisers, said in an interview on Bloomberg television. Speaking just days after President Barack Obama and lawmakers settled a hard-fought "fiscal cliff" deal to avert tax hikes and spending cuts, he warned a battle on borrowing costs and the budget might lead the U.S. to risk a credit downgrade. "I think we really are playing with dynamite with the debt ceiling," Krueger said in a separate interview on MSNBC. "Just go back to August 2011, we saw confidence plunge when Congress played Russian roulette with the debt ceiling. We saw job growth grind to almost a halt. So the economy will certainly do better if Congress does what it normally does, which is raise the debt ceiling without drama." (Reporting By Margaret Chadbourn, Anna Yukhananov, Doug Palmer; Editing by Vicki Allen) Investing and Taxes Simplified Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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