Tuesday, May 15, 2012

Geithner warns Boehner, GOP on end-of-year debt limit showdown

Treasury Secretary Timothy Geithner cautioned Republicans on Tuesday not to raise questions about whether the United States will once again raise its legal debt limit late this year, saying the economy is already starting to feel the effects of the potential fiscal cliff confronting Congress at the end of the year.

Geithner’s comments came as the White House and Democrats on Capitol Hill began reacting to a new ultimatum from House Speaker John A. Boehner (R-Ohio), who told an annual conference hosted by the Peter G. Peterson Foundation later Tuesday that Republicans will insist again this year that any increase in the debt limit be matched dollar-for-dollar with equal spending cuts.

Republicans made the same demand in the negotiations that led to an economy-rattling partisan showdown over the nation’s last debt ceiling hike last summer.
Read the rest here.

1 comment:

The Anti-Gnostic said...

They STILL don't have enough money?

Just default and get this over with.