News

Boehner: U.S. ‘Shouldn’t even get close to’ debt default

Boehner: U.S. ‘Shouldn’t even get close to’ debt default

DEBT CEILING: U.S. House Speaker John Boehner (R-OH) gestures as he speaks at a news conference on Capitol Hill in Washington Jan. 16. Photo: Reuters/Yuri Gripas

WASHINGTON (Reuters) – House Speaker John Boehner on Thursday said the United States should avoid a major fight over raising the federal debt ceiling that brings the United States close to a default.

After passage of a $1.1 trillion spending bill, the only major fiscal hurdle facing Congress over the next nine months is an increase in the $17 trillion debt ceiling that is expected to be needed in as little as six weeks.

Boehner told a news conference that the United States should not default on its debt and “shouldn’t even get close to it.”

He did not say whether Republicans would tie an increase in the debt ceiling to demands for additional deficit reduction.

An extension of U.S. borrowing authority is due to expire on February 7, but the Treasury Department has said its extraordinary cash management measures can allow it to keep issuing new debt until late February or early March.

“I would hope that the House and the Senate would act quickly on a bill to increase the debt limit,” Boehner said, without speculating on when such legislation could begin moving forward in Congress.

Speaking to reporters at his weekly press conference, Boehner was asked whether he would engage in direct negotiations with President Barack Obama on a new deficit-reduction package as part of the effort to increase the debt limit.

Boehner rejected that idea, saying, “there’s not much really to talk about” because Obama has said he would not negotiate on the debt limit.

Past one-on-one budget negotiations between Obama and Boehner have largely ended in failure.

The Ohio Republican also said that “we find ourselves in a fairly difficult box” because Obama and his fellow Democrats insist on tax increases as part of any major new deficit-reduction and “Republicans are not going to raise taxes.”

(Reporting By Richard Cowan and David Lawder; Editing by Chizu Nomiyama)

Recent Headlines

in Sports

Record 25M watch Women’s World Cup final on TV

Fresh
14-overlay4

The ratings set a new high for any soccer match televised in America.

in National, Sports

Boston bomber wants a new trial

Fresh
Boston Marathon bombing suspect Dzhokhar Tsarnaev is pictured in an undated FBI handout photo

Dzhokhar Tsarnaev, who has been sentenced to death, filed a motion in federal court on Monday seeking a new trial.

in Lifestyle

Activated charcoal is the latest health trend but does it work?

Fresh
21-overlay3

More companies are using activated charcoal as an ingredient in health and beauty products in the belief that it removes toxins from the body.

in Entertainment

Cosby said he got drugs to give women for sex

Fresh
22-overlay1

The AP reports that during a 2005 deposition "The Cosby Show" star admitted to giving sedatives to at least one woman.

in Entertainment

Today in entertainment history: July 7

JACKSON

A look back on the Hollywood headlines of years past.

Bellingham Traffic