May 15th, 2012
03:30 PM ET
6 years ago

Boehner: Spending cuts must top debt ceiling increase

New York (CNNMoney) - House Speaker John Boehner warned Tuesday that he won't permit another increase in the debt ceiling without a larger amount of spending cuts and reforms approved in tandem.

"When the time comes, I will again insist on my simple principle of cuts and reforms greater than the debt limit increase. This is the only avenue I see ... to force the elected leadership of this country to solve our structural fiscal imbalance," Boehner said at a fiscal summit sponsored by the Peter G. Peterson Foundation, according to prepared remarks.

Watch more Tuesday on CNN's "Erin Burnett OutFront" at 7 p.m. ET.


Filed under: Congress • Economy • John Boehner
soundoff (42 Responses)
  1. Sniffit

    Might be the dumbest thing he's said in 3.5 years. The polls showed the GOP/Teatrolls taking the vast majority of the blame last time they tried to hold the debt ceiling hostage, a move that has since been shown by the numbers to have significanlty delayed recovery and caused it to lessen. Doing so again this year will mark the GOP/Teatrolls' last breath.

    May 15, 2012 10:33 am at 10:33 am |
  2. rs

    Mr. Boehner is simply hoping to bump UP unemployment by laying off more government workers before the election- to raise revenues and reduce the deficit, how about ditching the Bush tax cuts for the very rich, and return the top bracket to where it was under Eisenhower?
    Yeah, you'll have to unpledge yourself from Grover Norquist, but the rest of us might believe you actually have a spine.

    May 15, 2012 10:35 am at 10:35 am |
  3. Sniffit

    "But, Geithner added, Treasury can use so-called extraordinary measures to keep the debt from breaching the ceiling until early 2013. Such steps include suspending contributions to federal pension plans."

    Oh, well, if that's not encouragement for the GOP/Teatrolls to play this game all over again in order to force the Fed's hand and then turn around and blame the administration for pension cuts...pension cuts the GOP/Teatrolls WANT TO HAPPEN TO GOV'T EMPLOYEES BECAUSE OF THEIR RESENTMENT TOWARDS THEM, but which Dems would fight tooth and nail if given a choice...they'll be yammering from the treetops that "oh look whose cutting your pensions to fund their spending spree" ALL WHILE THEY TRY TO INCREASE DEFENSE SPENDING BY CUTTING PROGRAMS FOR THE POOR AND SICK AND NEEDY.

    May 15, 2012 10:36 am at 10:36 am |
  4. Donkey Party

    Sorry Mr. TANgerine, but increasing taxes, or letting the unpaid for Bush tax cuts expire has to be on the table too. America is sick of the GOP protecting the mega-rich, and the massive losses the GOP suffers in November will reflect it.

    May 15, 2012 10:37 am at 10:37 am |
  5. ThinkAgain

    The majority of American millionaires and billionaires, along with a majority of Americans who are not in that income bracket, WANT the Bush tax cuts to expire and the wealthy pay more.

    Why is it that Boehner doesn't want to follow the WILL OF THE PEOPLE? He is beholden to the top 1/10 of 1% in this country whose sole aim is to destroy our Middle Class so we can become the cheap labor to the rising Chinese and Indian middle class.

    Boehner, his teabagger friends and all the other GOP enemies of our country need to be VOTED OUT in November!

    May 15, 2012 10:45 am at 10:45 am |
  6. ThinkAgain

    It's stupid to continue cutting the very programs that are helping the most vulnerable among us survive in this challenging economy. Middle- and lower-income people spend the money they have, which creates demand, which leads to more hiring.

    It's simple economics. But then again, Republicans have NEVER been good with the economy.

    Obama/Biden 2012

    May 15, 2012 10:46 am at 10:46 am |

    Mr. Speaker, YOU'RE FIRED!!! YOUR failed leadership and lack of having any control over YOUR caucus lead to our downgrade last year. If YOU would have manned up and COMPROMISED with the President on the $4 trillion dollar deficit deal you two reached last year rather than cowarding out to the fringe of YOUR party, perhaps we wouldn't be having this discussion again. The 113th Congress can't get here fast enough. The 112th Congress is by far the worst Congress EVER!!!

    May 15, 2012 10:47 am at 10:47 am |
  8. Four and The Door

    Treasury Secretary Tim Geithner said Tuesday that he estimates the country will likely hit its $16.394 trillion borrowing limit sometime before the end of year.
    ...but do not expect Obama/ Biden 2012 to even acknowledge this fact. They will avoid discussion of our nation's overwhelming pile of debt like the plague. Because for any hope of getting reelected, the pile of debt Obama is leaving behind is The Plague. Obama's only answer is," How much higher can we make it?".

    Romney 2012

    May 15, 2012 10:49 am at 10:49 am |
  9. ThinkAgain

    We've done enough cutting to social programs – time for the rich to start paying their fair share!

    BTW, Boehner, Reagan and GW both grew the government more than President Obama. You know this, but you're counting on your repeating of lies to convince your dumb and lazy base to not question your statements.

    Repubs think that profit motive brings out the best in people and that our country exists to line the pockets of the wealthy. All the infrastructure you take for granted would disappear under a Mittens' administration, what with his willingness to sell us all off – like he did to those companies at Bain – if it was in the best economic interests of his shareholders (which, given the Citizens United decision, now include foreign corporations and entities that no longer have to bomb us from without when they can take over the GOP and destroy us from within).

    Obama/Biden 2012

    May 15, 2012 10:52 am at 10:52 am |
  10. s

    tan Man time to go home, you spent enough time in Washington doing Nothing. Such a Looser

    May 15, 2012 11:00 am at 11:00 am |
  11. B.

    The GOP solution is to Cut everything past the point of no return. No balance, just slash and burn mentality.
    Most economists agree that the economy has to be Started first with investment into things like infrastructure that start job growth before the selective cuts start.

    May 15, 2012 11:01 am at 11:01 am |
  12. Stuffit

    I don't why he is wasting his breath. The democrat liberals could not afford to be truthful with the American people, they have to many welfare frauds, drug addicts and corrupt union bosses depending on them to steal money from the 50% of Americans who acutally pay taxes and work. Until we get a competent, non corrupt president, he just wasting his time like they are wasting our money.

    May 15, 2012 11:07 am at 11:07 am |
  13. mcskadittle

    those defense cuts that were supposed to have take effect automatically, would have gone a long way

    May 15, 2012 11:12 am at 11:12 am |
  14. Thomas

    Didn't he raise defenses spending last week ?

    Why not start another war and at the same time cut taxes on the 1 %.

    Mitt Romney only pays 15 % income tax , his five sons who avoided military service on pay 15% tax.

    House Speaker John Boehner is the perfect example of a politician being owned by lobbyist !

    May 15, 2012 11:12 am at 11:12 am |
  15. fayse

    The GOP ran on JOBS in 2010 . Mr. Speaker, Where are the jobs????

    May 15, 2012 11:13 am at 11:13 am |
  16. mcskadittle

    This won't happen before the election in November

    May 15, 2012 11:13 am at 11:13 am |
  17. Governor 47th in Job Growth

    More silliness, he must still be drunk. Debt ceiling is for debts already incurred. He only needs to look at Europe to see how austerity isn't working out. Finally, the dolt needs to get up from the pew of Grover (nice name) and realize that serious debt discussions must involve both sides of the ledger; get some revenue John boy - end the Bush tax cuts and big oil welfare.

    May 15, 2012 11:21 am at 11:21 am |
  18. Former Republican, now an Independent

    This another way of saying everything has to go exactly as we republicans lay it out, or we won't cooperate on anything. Same old tired story of not negotiating and doing their job. They have slowed down the economic recovery of the country long enough. It is time for the party of no, and the tea party to have a wake up call!

    May 15, 2012 11:23 am at 11:23 am |
  19. Bill from GA

    If Romney becomes Prez, God Forbid, do you think BoneHead will be so insistent about the debt ceiling. Repugs never are when their man is Prez.

    May 15, 2012 11:25 am at 11:25 am |
  20. maf

    Again, not taking into account the unfunded Bush WARS that caused a HUGE imbalance in the deficit!
    Very tired, very old argument. NOT working any longer because it is part of the same attacks and lack of partisanship that got us into this mess!!!
    An election looms and the GOP have now cut both their legs off! Fun to watch them knuckle dragging, still can't seem to find a platform worth running on!!

    May 15, 2012 11:25 am at 11:25 am |
  21. Bill

    Let's start with your salary Boehner.

    May 15, 2012 11:26 am at 11:26 am |
  22. Beverly - NYC

    Haven't we heard this saber rattling before from Messers Boehner, Cantor et al. I guess achieving the first government downgrade ever wasn't enough, now they want to see how far off they can derail the recovery to hurt Obama, help Romney, while keeping the tea baggers and Norquist happy. I wouldn't trust Boehner to plan a picnic, forget about this delicate dance he's attempting. Good luck with all that John Boy.

    May 15, 2012 11:27 am at 11:27 am |
  23. Bill from GA

    And maybe Congress should just let ALL of the tax cuts expire. Our economy grew just fine under the Clinton =era tax rates.

    We live in a great country; lets ALL pay for it. i don't remember that high taxes were such an issue in the 90's.

    May 15, 2012 11:30 am at 11:30 am |
  24. gayle

    "Your lokking at the very man,"That has held the American Economy back!!!! Worst Speaker in history! Obstructionist,immoral,and a complete failure on "Job Creation" Where is the Jobs you caimpagned on Speaker!!!! God help us all?????

    May 15, 2012 11:34 am at 11:34 am |
  25. Rudy NYC

    Sounds sensible until you look at what cuts Republicans want to make, and what spending they wish to protect.

    May 15, 2012 11:34 am at 11:34 am |
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