Hoyer Sees Benefit in Setting Debt Limit Timeline

House Minority Whip Steny Hoyer, D-Md., said Monday that it might be a good idea for Congress to set its own timeline for increasing the nation's debt limit.

Hoyer stressed that Congress should finish its work on the issue before the nation is set to run out of money August 2, and said that taking rapid action would be beneficial for the nation's economy.

"We know that we're going to have to increase the debt limit," Hoyer said, "Doing it sooner rather than later roils the markets less."

"I suggest that we set for ourselves a date of June 8," he later said.

But it may not be that easy.

One Republican member of the Biden deficit group said that deadline would be too soon. "June 8 might be pressing it," said Sen. Jon Kyl, R-Az., "Knowing where we are in our conversations with Vice President Biden, I don't think it would be possible to get there."

In addition to slow moving lawmakers, the Congressional calendar seems to make that deadline impractical. Though each chamber is in session this week, the Senate leaves next week for the Memorial Day recess, and the House will not be in session the week after that -- when Hoyer's self-imposed deadline would lapse.