Reid puts debt ball in U.S. House court

WASHINGTON -- Sen. Harry Reid sought to ratchet pressure on U.S. House leaders on Wednesday, saying the ball is in their court to identify a "real" plan that can pass muster with conservatives and avert a government debt default.

"We in the Senate can have the greatest ideas in the world but if they are not accepted in the House, we can't extend the debt ceiling, so now we await the House of Representatives," said Reid, the Senate majority leader from Nevada.

"We know they know time is of the essence," Reid said, counting down to an Aug. 2 deadline set by the Treasury Department to pass a bill permitting more government borrowing by raising the limit on the nation's allowable debt.

Reid's challenge came a day after House Republicans passed a debt solution bill championed by the right but rejected by the White House and certain to fail in the Democrat-led Senate.

Reid said the Senate will hold a vote on the measure on Saturday, if not sooner. The Senate leader has said senators would work seven days a week until a deal is reached.

The GOP "cut, cap and balance" legislation passed the House, 234-190. It called for spending cuts of $5.8 trillion over 10 years along with a strict cap on future spending and a constitutional amendment requiring a balanced budget.

Reid said House Speaker John Boehner, R-Ohio, believed it was important to get the conservative plan "out of the way first." But now, Reid said, Republican leaders "have got to become real."

"We need to get now where we work on something that is really important and has an opportunity to pass," Reid said. "We have plans to go forward here but until we hear from the House of Representatives all of our work here will be for naught."

Reid and other congressional leaders returned to the White House on Wednesday to meet with President Barack Obama on the debt limit.

At least three proposals have been described as being in play: a plan being formed by Reid and Senate Republican leader Mitch McConnell of Kentucky; a debt and revenue proposal formed by a bipartisan "Gang of Six" senators; and a "grand bargain" plan backed by Obama.

The White House said Obama would consider a short-term measure of "a few days" that would allow the debt limit to be raised but only if it were part of a larger agreement that needed time to wend through Congress.

In a Senate speech, Reid also mentioned the possibility of an "interim" measure that would allow the government to avoid defaulting on its bills and causing a financial crisis.

Contact Stephens Washington Bureau Chief Steve Tetreault at stetreault@stephensmedia.com or 202-783-1760.