Speaker of the House John Boehner, Republican, said in a speech that he would not agree to raise the debt ceiling unless there are $2 trillion in budget cuts. As you know, if the debt ceiling is not raised, the United States would default on its bills.
Let's put this in individual terms. John Boehner owes $5,000 in bills each month but only brings in $2,000. He has bills from Ohio Power, Ohio Gas and Baby Bell in addition to a mortgage. Continuing the analogy, he won't pay Ohio Power, Ohio Gas and Baby Bell until his spending goes down. In other words, he's fine not paying his bills, and has no plan to cut his spending.
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