Ready for short term increase in debt ceiling: Obama

The US government has been shut down for more than a week now, rendering lakhs of federal employees without work and pay

President Barack Obama has said that US administration is ready to accept a short term increase in debt ceiling along with reopening of the federal government and then negotiate rest of the issues with the Republicans.

"If they can't do it for a long time, do it for the period of time in which these negotiations are taking place," Obama said, urging the Republicans to re-open the government which has been shut down for more than a week now, rendering lakhs of federal employees without work and pay.

"I am happy to talk with him (John Boehner, Speaker of the US House of Representatives) and other Republicans about anything -- not just issues I think are important but also issues that they think are important," he said.

"I also told him that having such a conversation, talks, negotiations shouldn't require hanging the threats of a government shutdown or economic chaos over the heads of the American people," Obama said.

Though, his offer was soon shot down by Boehner.

"The President's position that listen, we're not going to sit down and talk to you until you surrender is just not sustainable. It's not our system of government," Boehner said at the Capitol Hill after Obama's went public with his proposals.

"When it comes to the debt limit, I agree with the president. We should pay our bills. I didn't come here to shut down the government. I certainly didn't come here to default on our debt. But when it comes to the debt limit, again, over the last 40 years, 27 times the debt limit has been used to carry significant policy changes that would, in fact, reduce spending and put us on a saner fiscal path," he said.