Reid to Huddle With Biden on Raising Debt Limit

Congressional sources tell Fox Senate Majority Leader Harry Reid and other top Democrats will huddle with Vice President Joe Biden at the White House this afternoon to discuss extending the US debt limit.

The meeting will take place after the conclusion of lengthy White House talks, attended by President Obama, on health care. Those negotiations involved 12 top House and Senate Democrats and involved a section-by-section review of differeing parts of the House- and Senate-passed health care bills.

Obama signed a temporary debt extension Dec. 28 that lifted the authorized limit to fro, $12.1 trillion to $12.4 trillion, enough to cover US obligations through February.

The House had considered extending the debt limit by $1.8 trillion, enough to fund US debt obligations past the 2010 mid-term elections. Senate leaders were unable to pass a debt extension that large because lawmakers demanded consideration of a legislation creating a bi-partisan commission on ways to reduce the federal debt.

The Senate must pass a debt extension in February to avoid a first-ever government default.

Biden's taken the White House lead on negotiating the debt extension with Senate Democrats. The Senate passed the December exemption 60-40. One Democrat, Evan Bayh of Indiana voted no. One Republican, George Voinovich of Ohio, voted yes.