WASHINGTON, Jan. 10 (UPI) -- U.S. President Barack Obama will ask Congress to raise the federal debt limit "in a matter of days," White House Press Secretary Jay Carney said Tuesday.
"I'm confident it will be executed in a matter of days, not weeks," Carney said.
Obama will ask Congress to raise the debt limit by $1.2 trillion as part of the third and final increase provided for under terms of the debt-ceiling deal reached last year, The Hill reported.
Obama had been scheduled to make the request last month. The move was delayed because Congress was holding only pro forma sessions.
The United States reached the current $15.2 trillion debt limit Jan. 4 and has since tapped into its Exchange Stabilization Fund, Treasury Department statements show. Treasury officials called this move an "extraordinary measure" to prevent the country from exceeding the debt limit.
