Hoyer urges $1.8T increase to debt ceiling

WASHINGTON, Dec. 11 (UPI) -- U.S. House Majority Leader Steny H. Hoyer said Friday the U.S. debt ceiling must be bumped up at least $1.8 trillion to avoid any defaulting on debts.

The proposal from the Democratic representative from Maryland comes as U.S. Senate and House of Representatives leaders are holding talks with White House officials regarding how to deal with the nation's debt limit, The Washington Post reported.

Federal lawmakers met with Obama administration officials such as White House Budget Director Peter Orszag last Thursday and those talks are due to resume to find a consensus approach to debt issues.

U.S. Senate Budget Chairman Kent Conrad, who took part in last week's talks, is among U.S. senators calling for the creation of a task force to actively tackle the country's debt problem.

"We understand in the short term you add to debt to avert (economic) collapse. We understand that. We also understand at some point you need to pivot to address our long-term debt, because at some point, it's unsustainable," the Democrat from North Dakota said.