Timothy Geithner: Republicans will raise the debt ceiling (I hope)

I want to make it perfectly clear that Congress will raise the debt ceiling. They recognize it and they told the president that on Wednesday in the White House and I sat there with them and they said, ‘We recognize we have to do this and we’re not going to play around with it, because we know the risk would catastrophic.’
Treasury Secretary Timothy Geithner • Speaking with a hushed tone about the need to increase the debt ceiling, the kind of thing the GOP would possibly screw with the debt ceiling. The U.S. government has just $76 billion of breathing room right now, and need to pass an increase by July 8. Problem is, Republicans want a deal to go with this. “In addition to raising the debt limit we want financial controls, we want cuts in spending accompanying a raising of the debt ceiling.” said Paul “Fancypants” Ryan. “And that is what I believe they (Republican congressional leaders) told the president.” Oh God, they’re gonna screw this up. source

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That would be a financial disaster not only for our country, but for the worldwide economy.
Speaker Of The House John Boehner • Appearing on Fox News Sunday, the Speaker waded into the debt ceiling issue, seeming to suggest that to his mind, failure to raise the limit would be unthinkable. The nature of Boehner’s unabashed candor is very surprising, considering the Republican voices who have recently toyed with the idea of voting against raising the ceiling. This may be an early example of the internal struggle between establishment Republicanism and their new Tea Party cohorts. source

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17 Apr 2011 20:29