POLITICS
New battle over debt limit inevitable?
May 16, 2012
May 16, 2012
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CONTINUED...
Boehner sets up another debt limit fight
Boehner says Republicans won't allow another increase in the nation's debt limit unless it's offset by spending cuts, and no tax increases.
"Allowing America to default on its debt would be irresponsible," he said.
The nation's debt has nearly tripled in the past decade, and now stands at $15.6 trillion.
Treasury Secretary Timothy Geithner has predicted the U.S. will hit its current borrowing limit of $16.4 trillion by the end of the year.
Congress will have to raise that limit to avoid a damaging default on the nation's debt payments.
On the campaign
Boehner sets up another debt limit fight
Boehner says Republicans won't allow another increase in the nation's debt limit unless it's offset by spending cuts, and no tax increases.
"Allowing America to default on its debt would be irresponsible," he said.
The nation's debt has nearly tripled in the past decade, and now stands at $15.6 trillion.
Treasury Secretary Timothy Geithner has predicted the U.S. will hit its current borrowing limit of $16.4 trillion by the end of the year.
Congress will have to raise that limit to avoid a damaging default on the nation's debt payments.
On the campaign
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