Published on 16th May 2012
"Washington braced Tuesday for a replay of last summer’s tense battle over the burgeoning national debt as House Speaker John A Boehner threatened again to block an increase in the federal debt ceiling without significant new cuts in spending. Treasury Secretary Timothy F Geithner and other senior Democrats quickly blasted the Ohio Republican, arguing that his ultimatum could put the nation’s credit rating — and the broader economy — at risk early next year, when the debt is expected to hit its $16.4trn limit," the Washington Post writes.