Tuesday, April 26, 2011

Boehner talks tough, sort of, on debt ceiling

“If the president doesn’t get serious about the need to address our fiscal nightmare, yeah, there’s a chance it [the debt limit vote] could not happen,” Boehner told POLITICO after he toured a manufacturing company in this western Ohio town. “But that’s not my goal.”

The vote to increase the borrowing ceiling beyond the current limit of $14 trillion has become one of the defining issues for a House Republican majority that ran campaigns promising dramatic cuts in government spending. As the deadline draws closer to a debt ceiling vote, Republicans are starting to sound less compromising in their stance, even as Treasury officials warn of market calamity and economic “Armageddon” if Congress refuses a vote.