| Geithner Warns Against Partisan Bickering When It Comes To The Debt Ceiling |
| May-17-2012 |
| Keywords: geithner, debt ceiling, bickering, negotiations, partisanship |
U.S. Treasury Secretary Timothy Geithner is attempting to head of what could be another nasty altercation between Republicans and Democrats already exchanging barbs over the next round of debt ceiling talks.
Geithner today saying that when it comes time raise the debt ceiling again, that negotiations don't need to devolve into partisan bickering as they did last year.
"It's not responsible to put at risk people's confidence in the credibility of the United States," Geithner said.
House Speaker John Boehner yesterday warning the President and Senate Majority Leader Harry Reid, that a combination of spending cuts and reforms would have to be greater than the amount of the next increase to the nation's debt limit.
The United States was originally expected to reach the $16.4 trillion sometime after the November presidential election, but before the end of the year.
But there are some who are looking at our debt and think the cap may have to be raised prior to the 2012 elections. If so, things could get very ugly very fast especially for a president who when he was a Senator, said that raising the debt ceiling is a sign of failed leadership.
Last year's bitter fight on Capitol Hill in some ways contributed to Standard & Poor's stripping the United States of its AAA credit rating.
Asked how the United States could win back its top-notch credit rating, Geithner warned that threat of a default would not provide Washington lawmakers the motivation to rein in spending, that has exceeded revenues by more than $1 trillion for the past four years. |
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Posted by Lou Dobbs Staff at 3:00 PM Email to a friend |
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