Boehner to Obama: No debt hike without concessions

11:15 PM, Oct 6, 2013   |    comments
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WASHINGTON (AP) - The United States is edging closer to the possibility of the first-ever default on the government's debt.

But Speaker John Boehner, appearing on ABC's "This Week," has ruled out a House vote on a straightforward bill to boost the borrowing authority without concessions from President Barack Obama.

With no resolution in sight, Treasury Secretary Jack Lew is warning that Congress is "playing with fire." And he's calling on lawmakers to quickly pass legislation re-opening the government and a measure increasing the nation's $16.7 trillion debt limit.

The government shutdown precipitated by the budget brinkmanship entered its sixth day Sunday with hundreds of thousands of federal employees furloughed, national parks closed and an array of government services on hold.

Lew says Obama has not changed his opposition to coupling a bill to re-open the government and raise the borrowing authority with Republican demands for changes in the 3-year-old health care law and spending cuts.

Boehner, however, insists that Obama must negotiate if the president wants to end the shutdown and avert a default that could trigger a financial crisis and recession that would echo the events of 2008 or worse.

 

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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