Debt limit issue could drag into Election 2012

posted by
May 10, 2011
The Christian Science Monitor    
Posted in News, PND News

"House Speaker John Boehner’s call for trillions in federal spending cuts as a condition for increasing America's $14.3 trillion debt limit just raised the bar for budget talks between congressional leaders and the White House, set to resume Tuesday -- a move likely to keep the debt limit issue running through the 2012 election. Allowing the United States to default on its debt would be 'irresponsible,' Speaker Boehner told the Wall Street financiers' Economic Club of New York on Monday. 'But it would be more irresponsible,' he said, 'to raise the debt ceiling without simultaneously taking dramatic steps to reduce spending and reform the budget process.'" (05/10/11)

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