John Boehner: Raising Debt Limit Is An 'Action-Forcing Event'

House Speaker John Boehner (R-Ohio) sees the debt ceiling as an "action-forcing event" where he will insist on cuts greater than the increase, setting up a legislative fight similar to the one that paralyzed Congress last summer.

Boehner called the statutory debt limit the "only avenue" to solve "our structural fiscal imbalance," at the Peter G. Peterson Fiscal Summit Tuesday. A Boehner aide told the Washington Post that tax increases are still off the table.

"We shouldn’t dread the debt limit," Boehner said. "We should welcome it. It’s an action-forcing event in a town that has become infamous for inaction."

Speaking at the conference, Treasury Secretary Timothy Geithner warned Boehner on the debt limit. "This commitment to meet the obligations of the nation, this commitment to protect the creditworthiness of the country, is a fundamental commitment that you can never call into question or violate," he said, according to The Hill. He said he hopes Congress will raise the debt limit "without the drama and the pain and the damage they caused the country last July."

Historically, raising the debt limit had not been a mechanism to force major policy changes and had passed easily with partisan grumblings about the level of debt. However, congressional Republicans in 2010 insisted on adding major cuts to an increase in the debt limit, raising the specter of default. The deal finally reached provided a $2.4 trillion increase in the debt limit with $2.4 trillion in cuts over 10 years.

A variety of spending cuts and tax increases take effect shortly after the debt ceiling is expected to be reached, potentially setting up a battle worse than last summer. Geithner said in February said that he expects that the debt ceiling will be hit sometime between Sept. 30, 2012 and the end of the year. The Bush-era tax cuts also expire at the end of 2012, and $1.2 trillion in automatic cuts to defense spending and Medicare as part of the debt ceiling deal take effect in 2013.

This post has been updated.

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Comments

[vietveter]

08:01 PM on 07/21/2012

There is a plan by which that paying off the debt is not possible.

face it - the banks have us right where they want us

Check this out; you will be glad you did

http://topdocumentaryfilms.com/i-want-the-earth-plus-5/

[Hearts Fantasy]

03:55 PM on 05/23/2012

WATCH THESE REBUBLICANS VOTED OUT TAKE REVENGE BY VOTING WITH THE DEMOCRATS TO GET SOME THINGS DONE BEFORE THEY LEAVE
I CERTAINLY WOULD BEFORE I LEFT DO THE RIGHT THING AND KICK THE BEHIND OF THESE TEALEAVERS

[John D Rachel]

06:00 AM on 05/16/2012

Thank goodness that Geitner laid down the law. I'll bet the Republicans are trembling in their silk Gucci underwear.

[okaywhat]

01:13 AM on 05/16/2012

The republican party is the most worthless piece of , well you know, that I have ever seen.

[Y Woodman Brown]

07:19 PM on 05/15/2012

Here it is, we haven't even seen the obstruction of which this obstructionist congress is truly capable. Bringing-down the economy around Mr. Obama's ears is John Boehner's wet dream. I wouldn't doubt that he and his crony McConnell and their Tea Party 'patriot' dupes are already emailing S&P requesting another down-grade.

Will they go so far as to flat-out name a randsom for the hostage? Vote-in Mitt and we'll pass a budget. Or will we enter a new era operating under budgetless governments?

It doesn't appear that a budget was ever actually necessary. We didn't get one last year and we're certainly no worse-off than Greece, we're doing better than Japan, the Middle East and the whole freaking E.U. It isn't as if even a single statement of Timothy Geithner's has ever come to pass--and as a lame duck Secretary, Geithner's analyses and opinions are worth-less than so much garden mulch.

Don't Panic.

Simply vote-out the elephants and re-elect Mr. Obama this fall. Ignore Boehner, we can replace him in January. No negotiations with radical right fiscal terrorists.

[KJ Pierson]

12:10 AM on 05/16/2012

Or we can replace the Spender in Chief, and not worry about it.

[Robert Lowther]

05:27 PM on 05/15/2012

Didn't we try this already. Even worked in automatic cuts if they weren't able to find cuts? Now Bhoener is leading the charge to change what they agreed to in order to avoid cuts to defense? Just how stupid does he think people really are? I can't wait until he is up for re-election. I will personally take a leave of absence to work on the campaign of his challenger! Poor thing will probably cry during the whole campaign.

[mstaggerlee]

05:21 PM on 05/15/2012

So - last summer, when the debt limit came up, the Republican House nearly forced the nation into default, and got our national credit rating downgraded. The upshot of the mess they created was the so-called "Super-Committee", charged with making a deal to find places where cuts could be made, and where revenues might be raised, with the stipulation that if they failed to reach an agreement, there would be AUTOMATIC CUTS to both the Military budget and Medicaid.

Of course, the Stupid-Committee DID fail. Over the past several weeks, Congress has backed off last year's deal, and have been looking for ways around those AUTOMATIC defense cuts, and for where else that funding might be taken from.

And now, Mr Boehner is apparently gearing up to do it ALL OVER AGAIN!

Can we stop this ride, please? I wanna get OFF!

[scottwarhar]

04:37 PM on 05/15/2012

It is becoming more and more obvious that box of rocks and bucket of worms are very close approximations of the average Teapublicans intelligence.They see with their eyes closed,turn fables to truth,call repression freedom,and move backward as they point forward.Their candidate for president Wrong Way Romney could have a debate with himsrlf but has the prerequisite number of working digits to sign the legislation that was written by the lobbiest that pay for these legislators to be elected and pass the legislation.Please Mr.Boehner put down that money and work for the American people once in your life.Do the right thing and you won't have to cry amymore.

[grittyreboot]

04:24 PM on 05/15/2012

Shouldn't Boehner's election and eventual appointment as speaker of the House have been an "action-forcing event" ?

At least, that's how I thought Govt. worked. I guess the GOP will do anything to prove their claim that government doesn't work.

[GimmeShelter69]

04:21 PM on 05/15/2012

Wow, the six weeks between the Nov. 6 elections and Jan 1 are going to be harrowing. Lots of big, big decisions to be made (Taxmageddon, etc.) and all of them mad as h-e-l-l at each other. It ain't gonna be pretty at all and I'll bet its even scarier than The Exorcist.

[Twohairydogs]

03:55 PM on 05/15/2012

Sounds like he's considering Ex-lax.

[theobserver4]

03:52 PM on 05/15/2012

How wrong is it to keep asking 99% of America to pay for the outrageous mistakes of the mega wealthy? I'm sick of it!!!

[rabprevent]

03:51 PM on 05/15/2012

Have more cocktails Boehner!

[Stoptheworld]

03:22 PM on 05/15/2012

Different time, same BS. Does anyone in the Republican't party have a single thought that isn't put there by Republican't mantra? The party of "NO" has done nothing to help with the woes of the Country. Now they are willing to get another downgrade? What is in their makeup that prevents them from doing the jobs they were elected to do? Are they afraid of the Teab@ggers? Are they afraid they won't be able to make millions by being in Congress? What is behind their inaction and ability to sanely think through a problem?

[schatsie]

03:31 PM on 05/15/2012

They are doing exactly what their paymasters are tellng them to do...Don't doubt that for a minute....See The Big Con...Grover Norquist is a TRAITOR because he would sell every single freedom we have left for a profit....

[KJ Pierson]

12:16 AM on 05/16/2012

They're both the party of NO. No to tax increases on one side. No to cuts on welfare and social crap on the other. Reid won't let a budget come thru to the senate to save his mummified corpse, Boehner won't let a tax increase thru to let to save his pickled corpse.

There is no difference, almost all of them in DC that haven't held an actual real job, aka career politicians, from Obama down to Reid, Boehner, McConnell, Pelosi, Feinstein, etc are there to make their money from their political life. The real con of it all is that they actually con people here into thinking they're actually on different sides.

[xxxskier]

03:17 PM on 05/15/2012

Come on Ohio, If you want to be taken seriously...get rid of this clown.

[Susan Spacek Thompson]

03:39 PM on 05/15/2012

Same for Paul Ryan in Wisconsin.

[jerseyrambo]

04:15 PM on 05/15/2012

As well as boxer,feinstein and pelosi.