Will The US Have A “Debt Crisis”?
John Boehner, Speaker of the US House of Representatives, is leading the Republican Party’s charge on fiscal policy, arguing that his side needs to see “trillions of dollars” in spending cuts in order for Congress to approve an increase in the US government’s debt ceiling. No one should believe him.
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WASHINGTON, DC – John Boehner, Speaker of the United States House of Representatives, is leading the Republican Party’s charge on fiscal policy, arguing that his side needs to see “trillions of dollars” in spending cuts in order for Congress to approve an increase in the US government’s debt ceiling. But framing the issue this way creates a major problem for Boehner: it will directly, completely, and quickly antagonize one of the Republicans’ most important constituencies – the US corporate sector.