FINANCIAL TIMES: …At the final press conference of his first term, a combative US president said Republicans should not expect a “ransom” in the form of spending cuts for agreeing to increase the debt ceiling…
After the deep recession and subsequent response, on top of deficits accumulated under George W. Bush, the federal government borrows about 40 cents for every dollar it spends.
The Republicans say deep spending cuts must be part of any debt ceiling deal, with some of the party’s members in Congress considering allowing the government to shut down, or for the US to delay paying its debts, to make their point, according to Politico, a Washington publication… (more)
