House Speaker John Boehner (R-Ohio) told Fox News today that "Congress is never going to give up" control of the debt ceiling to the president. With the fiscal cliff looming, the executive branch is trying to pass a new legislation that would allow for more spending cuts and tax rate increases on the wealthy. This fiscal cliff deal includes the transfer of debt ceiling powers to the executive branch. Current law states that only Congress can raise the debt limit. This new plan would allow the White House to raise the debt ceiling if necessary. This deal, proposed on Thursday, calls for $1.6 trillion in tax increases and $400 billion in Medicare cuts over the next ten years. Today, Boehner called this proposal "nonserious" on Fox, and the Republican party is dismissing it. He also said on Sunday that he told Treasury Secretary Timothy Geithner, "you can't be serious."

  http://www.huffingtonpost.com/2012/12/02/john-boehner-debt-ceiling-congress_n_2228377.html?ref=topbar
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John Boehner/Huffington Post
 


Comments

Nick DiClementi
12/07/2012 6:45pm

Nice job Caz. It will be very interesting to see if Congress and the President will ever be able to come to a compromise. I agree, with the fiscal cliff looming it is very important that they reach an agreement soon or things will only continue to get worse. It seems to be that Congress doesn't want to pass any legislation that would increase taxes on the wealthy; therefore, I believe that this will continue to be an issue until either the president cuts back on the tax increases on the wealthy, or until Congress accepts the need to do something as soon as possible.

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