Goolsbee confident debt ceiling will be raised
Republicans like Rep. Eric Cantor (R-Va.), the House majority leader, have latched onto the announcement Monday by Standard & Poor’s that it was revising its outlook on U.S. debt to “negative” to back their view that any hike in the debt ceiling must be paired with serious spending cuts or other deficit-reduction measures.
Lawmakers like Rep. Paul Ryan (R-Wis.) also pushed back on Geithner’s debt-ceiling comments during the weekend.
Treasury has projected that the debt limit will be breached by mid-May and that Congress needs to act before early July or the United States risks defaulting on its debts.
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Harris calls for ending filibuster for abortion rights
