To the surprise of no one, House Speaker John Boehner has reportedly offered to extend the debt limit for one year.
Via the Washington Post:
House Speaker John A. Boehner has offered to push any fight over the federal debt limit off for a year, a major concession that would deprive Republicans of leverage in the budget battle but is breathing new life into stalled talks over the year-end “fiscal cliff.”
The offer came Friday, according to people in both parties familiar with the talks, as part of the latest effort by Boehner (R-Ohio) to strike a deal with President Obama to replace more than $500 billion in painful deficit-reduction measures set to take effect in January.
Conservative tweeters were not pleased:
It has happened before. In one year, it will happen again.