WILLIAMSBURG, Virginia (Reuters) - House Budget Committee Chairman Paul Ryan said his party is considering pressing for only a short-term extension of borrowing authority
Ryan, speaking to reporters at a Republican retreat for House members, said that he believes the Obama administration has and should use authority to prioritize its payments to avoid a debt default in the event of any delays in raising the debt limit.
"We think that the worst thing for the economy is for this Congress and this administration to do nothing to get our debt and deficits under control," Ryan, a Wisconsin Republican, said.
(Reporting By David Lawder, Rachelle Younglai and Kim Dixon; Editing by Sandra Maler)
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