Wednesday, October 9, 2013

Avoiding Default is All About Spending

The partial government shutdown headed into its second week with no sign of resolution to the bitter stalemate as key Republicans in Congress on Sunday linked the current budget impasse to the looming confrontation over a potential default on the nation's debt. 
House Speaker John Boehner said the GOP-led House would not pass measures to either reopen the government or increase the government's borrowing authority without concessions from the White House, including talks on reducing federal spending. 
"I don't want the United States to default on its debt," the Ohio Republican said on ABC'sThis Week. "But I'm not going to raise the debt limit without a serious conversation about dealing with problems that are driving the debt up."
President Obama, he said, "is risking default by not having a conversation with us." 
Asked how the stalemate would end, Boehner said: "If I knew, I would tell you." 
The government will reach the limit of its borrowing authority on Oct. 17, and Obama has called for lawmakers to pass a bill increasing the limits with no conditions attached.
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