Wednesday, April 7, 2010 as of 11:14 AM ET
House Speaker John Boehner said Tuesday that when Congress raises the nation's borrowing cap he will again insist on spending cuts and budget reforms to offset the increase.
In remarks prepared for a budget address Tuesday afternoon, the Ohio Republican said he welcomes another wrenching debate on increasing the so-called debt limit because it forces a Congress and White House plagued by gridlock to make difficult decisions.Boehner also said that the GOP-controlled House will vote to extend Bush-era tax cuts due to expire at the end of the year and that the House will act next year on "broad-based tax reform that lowers rates for individuals and businesses while closing deductions, credits and special carveouts."According to Treasury Secretary Tim Geithner, the government will hit its borrowing cap late this year but Treasury can use accounting maneuvers to buy time for the newly elected Congress to deal with the issue early next year.About a year ago, Boehner made a similar promise on ...The United States just passed a dubious milestone: Government debt surged to an all-time high, topping $14 trillion — $45,300 for each and everyone in the country.Th...
The government has maxed out its credit card.The United States reached its $14.3 trillion limit on federal borrowing Monday, leaving Congress 11 weeks to raise the t...
House Republican budget negotiators have abandoned plans to pursue a massive $4 trillion, 10-year deficit reduction package in the face of stiff GOP opposition to an...
Go Big? Hardly; New Iran Reality; Freddie Money a Warning Light for GingrichOverheated Rhetoric Doesn't Match Reality on Debt Debate"Failure can't be an option. The ...
The top Republican in Congress wants trillions of dollars in spending cuts as part of must-pass legislation allowing the federal government to continue borrowing to ...
With the national debt reaching an all-time high of more than $14 trillion, a showdown is looming in Congress, which will have to lift the legal debt limit to give t...
Republican senator on 'Fox News Sunday'
An intensive endgame at hand, Republican leaders abruptly postponed a vote Thursday night on legislation to avert a threatened government default and slice federal s...
Rep. Bilbray in support of Boehnerâ??s debt solution
America faces potentially devastating default and credit downgrade
The leader of the Democratic-controlled Senate said Wednesday that any legislation increasing the government's ability to borrow more money to meet its obligations s...
Senator Majority Leader Harry Reid has recently attacked Republicans over the upcoming vote on raising the debt ceiling, saying, "We can't back out on the money we o...
House Speaker John Boehner said Tuesday that when Congress raises the nation's borrowing cap he will again insist on spending cuts and budget reforms to offset the i...
Government study says tax hikes, budget cuts could trigger recession in 2013
House Speaker John Boehner on Tuesday teed up another debt-ceiling brawl, announcing that Republicans will insist on the same kinds of demands that Democrats claim b...
Congressional Republicans are rallying behind a long-shot bid for a constitutional amendment requiring a balanced budget. But they're divided over conservatives' eff...
Thomas E. Mann and Norman Ornstein tell Alan why they blame Republicans for the gridlock in Washington
GOP lawmakers seek to highlight unpopularity of president's policies
An intense endgame at hand, House Republican leaders struggled late into the night Thursday to quell a revolt by conservatives and pass legislation to avert a threat...
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