Bipartisan U.S. lawmakers preparing plan to avert debt-ceiling crisis

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Reuters

By Jason Lange WASHINGTON (Reuters) – A bipartisan group of U.S. lawmakers is preparing a plan to defuse a looming crisis over the nation’s debt ceiling by changing it from a fixed dollar amount a percentage of national economic output, the group’s top Republican said on Sunday. The proposal would replace Washington’s current federal debt ceiling – currently set at $31.4 trillion – with a rule that would instead limit debt to a share of national economic output, said U.S. Representative Brian Fitzpatrick, the Republican co-chair of the moderate Problem Solvers Caucus. Fitzpatrick – appearing o…

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