Boehner: Failure To Raise Debt Ceiling Would Mean 'Financial Disaster'

House Speaker John Boehner (R-OH) says it's not a threat. Even as he admitted that not raising the debt ceiling would mean a "financial disaster" for the US and the world, the Speaker implied Sunday that Republicans would hold the debt limit

By David Edwards

01/30/11 09:30 am

suggested that refusing to raise the debt limit should be the first order of business.

Reps. Jerry Lewis (R-CA), and Jack Kingston (R-GA) have pledged to vote against an increase. Rep. Mike Lee (R-UT) vowed to vote against the dept limit, as did Rep. Michele Bachmann (R-MN).

Sen. Lindsey Graham (R-SC) has threatened to hold the debt ceiling hostage over cuts to Social Security.

Republican senators provided an average of 39 votes to raise the debt ceiling while George W. Bush was president, but only one supported the increase under President Barack Obama.

Boehner: Failure To Raise Debt Ceiling Would Mean 'Financial Disaster'

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