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Boehner Says U.S. 'shouldn't Even Get Close To' Debt Default

wochit politics
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January 16, 2014 AT 8:17 AM
House Speaker John Boehner said on Thursday that the United States should avoid a major fight over raising the federal debt ceiling that brings the United States close to a default. After the 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. An extension of U.S. borrowing authority is due to expire on February 7th, 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.