Remember, unlike just a tax hike or spending cut, hitting the debt ceiling means going cold turkey to a balanced budget, which is catastrophic as it eliminates the automatic stabilizers and triggers a downward spiral that, if left to continue, could take maybe 25% off of GDP in 90 days, and still be accelerating downward.
Boehner: We’ll win the fight to defund Obamacare September 19 (Reuters) — U.S. House of Representatives Speaker John Boehner said he was confident that majority Republicans in the chamber would pass a stop-gap U.S. funding measure on Friday that denies money for “Obamacare” health insurance reforms.
At a news conference on Thursday, Boehner also said Republicans had “no interest” in defaulting on U.S. debt in the looming debate over raising the U.S. debt limit.
“We will deliver a big victory in the House tomorrow, and then this fight will move over to the Senate where it belongs. I expect my Senate colleagues to be up for the battle,” Boehner said.
