U.S. Debt Ceiling Looms Large: Boehner Stands Firm
Washington has more on its plate than just the government shutdown. It may be the main course, but with the debt ceiling soon to be served up, someone needs to start biting into the problems. On October 17 the U.S. will find itself with only the cash left it it’s wallet unless the debt limit is raised and borrowing power restored.
According to Bloomberg Businessweek, the Congressional Budget Office estimates that money will start to run out somewhere between October 22 and 31. Despite the facts, Speaker of the House John Boehner (R-Ohio) is standing firm and refusing to pass a debt limit without provisions.
“We are not going to pass a clean debt limit,” said Boehner, claiming “The votes are not in the House to pass a clean debt limit.” The Obama administration has made it equally clear that the debt ceiling and government funding are not to be used as bargaining chips.