Republicans agree three-month debt ceiling increase in surprise boost for Obama

In surprise move, GOP lawmakers show first signs of backing down over debt crisis by giving Congress time to pass a budget Republicans showed the first sign of backing down over the looming debt ceiling crisis on Friday, in the face of relentless pressure from President Barack Obama. Congressional Republicans, who only last week had been threatening to close down the federal government, emerged from closed-door negotiations at a party retreat to announce they will present a bill next week to inc...