Monday, January 14, 2013 1:08 pm
Boehner: GOP will pass 'responsible' debt bill
By ANDREW TAYLORAssociated Press
Boehner acknowledged Monday that failing to lift the so-called debt ceiling would have bad consequences. But he also said that "allowing our spending problem to go unresolved" would be just as troublesome.
Without congressional action, the government would have to default on its obligations, a prospect that could send markets into a spiral and do broader harm to the fragile economy.
The Ohio Republican's statement came after President Barack Obama told reporters he was willing to negotiate on the budget but wouldn't allow the debt ceiling to be held captive in the process.