By Kevin Liptak, CNN
The eleventh-hour compromise that avoided the fiscal cliff cannot be repeated when it comes time to raise the nation’s debt ceiling, top lawmakers agreed Sunday.
But whether Republicans and Democrats can agree on how to raise the debt ceiling – specifically, whether or not to pair the increase with spending cuts – remains to be seen.
Speaking on CNN, Sen. Dick Durbin, the No. 2 Democrat in the Senate, said spending cuts and tax reform are needed as part of a balanced plan to further reduce the federal deficit, but that linking them to a routine increase in the debt ceiling was a perilous proposal from Republicans.