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Tue May 7, 2013, 10:27 PM

John Boehner On Debt Ceiling: Let's Pay China First, Then U.S. Troops [View all]

Source: Huffington Post

WASHINGTON -- House Speaker John Boehner (R-Ohio) on Tuesday essentially agreed with Democrats' arguments that a Republican bill to prioritize debt payments would put China before U.S. troops -- except he suggested that would be a good thing.

During an interview with Bloomberg TV, Boehner was asked about this week's vote on the Full Faith and Credit Act, which, in the event that the U.S hits its debt ceiling, would direct the treasury secretary to pay only the principal and interest owed to bondholders before making any other payments. Money for other payments, such as those for veterans, Medicare and national security, would have to be divvied up from what remained of the scarce federal funds.

Republican supporters of the bill maintain that the most important thing is that the nation won't default on its credit as as long as those interest payments are made on time.

"Our goal here is to get ourselves on a sustainable path from a fiscal standpoint," Boehner said. "I think doing a debt prioritization bill makes it clear to our bondholders that we’re going to meet our obligations."

When show host Peter Cook asked if Boehner's comments mean that, as Democrats have suggested, Republicans are basically choosing to pay China before paying U.S. troops, Boehner didn't disagree.

Read more: http://www.huffingtonpost.com/2013/05/07/john-boehner-debt-ceiling_n_3233422.html?ncid=txtlnkushpmg00000037

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Reply John Boehner On Debt Ceiling: Let's Pay China First, Then U.S. Troops [View all]
Galraedia May 2013 OP
daleo May 2013 #1
Faryn Balyncd May 2013 #2
Renew Deal May 2013 #3
LeftInTX May 2013 #9
olddad56 May 2013 #4
earthside May 2013 #5
Scuba May 2013 #12
BootinUp May 2013 #6
olddad56 May 2013 #7
smirkymonkey May 2013 #13
Samantha May 2013 #8
bhikkhu May 2013 #10
Midniteagle May 2013 #11