With his self-imposed deadline for releasing a deficit plan before overseas markets open just a few hours away, House Speaker John Boehner (R-Ohio) said both sides were “not there yet” and pushed for a two-stage debt-limit vote.
“I would prefer to have a bipartisan approach to solve this problem,” Boehner said on Fox News Sunday. “If that’s not possible, I and my Republican colleagues are prepared to do this alone. Today.”
Boehner pushed for a proposed two-stage debt-limit vote.
It is not “physically possible” to get everything done before the Treasury Department’s August 2 deadline for raising the debt ceiling, Boehner said. “There is going to be a two stage process.”
“I don’t want to get anywhere close to [default],” he said. “This is about what’s doable at the eleventh hour.”
Boehner’s office said late Saturday that a two-vote approach was now necessary in order to raise the debt ceiling immediately while tackling deficit-reduction later.
Boehner also criticized President Obama for recommending a debt ceiling deal be timed to last beyond the next election season.
“The president’s worried about his next election, but my God, shouldn’t we be worried about the country?” Boehner said. “I’m not worried about the next election. I told the president months ago: Forget about the next election!”
The administration though has indicated that the debt ceiling should be raised at least through 2012, in order to take politics out of the negotiation.
The president said in his speech Friday evening that he would be willing to work on “any plans” that lawmakers brought him over the weekend. “The only bottom line that I have is that we have to extend this debt ceiling through the next election, into 2013,” President Obama said.
Read more @ thehill