By CARL HULSE
NYT
WASHINGTON — Speaker John A. Boehner said Monday that Republicans would
insist on trillions of dollars in federal spending cuts in exchange for
their support of an increase in the federal debt limit sought by the
Obama administration to prevent a government default later this year.
In his most specific statement to date on what Republicans will demand
in the debt ceiling fight, Mr. Boehner told the Economic Club of New
York that the level of spending reductions should exceed the amount of
the increase in borrowing power.
“Without significant spending cuts and changes to the way we spend the
American people’s money, there will be no debt limit increase,” Mr.
Boehner told members of New York’s business and finance community. “And
cuts should be greater than the accompanying increase in debt authority
the president is given.” Mr. Boehner said those cuts should be in the
trillions of dollars, not billions.
In the speech, delivered ahead of a second round of debt limit
negotiations with the White House and Senate Democrats on Tuesday, Mr.
Boehner did not provide a timeframe for when the spending reductions
would have to be imposed.
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