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NewsCenter28

(1,837 posts)
Thu Jan 23, 2014, 03:03 AM Jan 2014

Boehner and GOP House plan Feb. 2014 government shutdown/debt default [View all]

I get newsletters for all of MSNBC's programming. This just came in my inbox from Morning Joe:

JACK LEW TO CONGRESS: DEBT LIMIT DEADLINE IS END OF FEBRUARY
Congress will likely need to raise the debt limit by late February to avoid a missed payment, according to Treasury Secretary Jack Lew. In a letter sent to lawmakers Wednesday, Lew said the timeline for a borrowing boost has moved up slightly. When he first pressed Congress to increase the debt cap in December, he estimated a default could occur as late as early March. But based on “our best and most recent information,” Lew now pegged the default deadline as sometime in late February, calling on Congress to boost it as soon as possible. “I respectfully urge Congress to provide certainty and stability to the economy and financial markets by acting to raise the debt limit before February 7, 2014, and certainly before late February,” he wrote. Speaker John Boehner's office said that any debt ceiling increase needs to include concessions from President Obama. "The Speaker has said that we should not default on our debt, or even get close to it, but a 'clean' debt limit increase simply won't pass in the House. We hope and expect the White House will work with us on a timely, fiscally-responsible solution," spokesman Michael Steel said. Read more..

Boehner says no clean debt limit increase. President Obama says there will be no negotiations with hostage-takers. Ergo, a debt default with a 2nd government shutdown appears all but inevitable now.

Boehner: This is what they call "overplaying your hand."

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