We have released a statement on House Speaker John Boehner's recent remarks concerning the debt limit. Here’s the opening:
No one should underestimate the significance of House Speaker John Boehner's declaration [Tuesday] that he will block an increase in the debt limit next winter unless policymakers match each dollar of debt limit increase with at least a dollar in budget cuts, with no revenue increases. This standard, which key Republican leaders have said they will insist on for all future debt limit increases, would both produce extreme policies and repeat these lawmakers' hostage-taking strategy of last summer that threatened the economy and full faith and credit of the U.S. government — and raised the risks of a first-ever, potentially catastrophic, default.
Click here for the full statement.