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Boehner promises no default on U.S. debt

English.news.cn   2014-02-07 10:16:30

WASHINGTON, Feb. 6 (Xinhua) -- The U.S. House Speaker John Boehner said on Thursday that the GOP-controlled House has not decided how to deal with the debt limit, but pledged no default.

"A lot of opinions about how to deal with the debt limit. No decisions have been made," the Ohio Republican said at a weekly press conference.

"The goal here is to increase the debt ceiling. Nobody wants to default on our debt," he added.

Boehner's words came one day before the U.S federal government will run out of its borrowing authority. The Congress suspended the debt limit last October as part of a deal to re-open the government after a 16-day partial shutdown. But the temporary suspension lasts only through Feb. 7.

After Friday, the Treasury Department will have to start using extraordinary measures to avoid a first-ever default on the national debt. But the Treasury Secretary Jacob Lew said those measures will probably only last until the end of this month.

"Time is short. Congress needs to act to extend the nation's borrowing authority, and it needs to act now," he said on Monday at a meeting organized by the Bipartisan Policy Center, a Washington think tank.

The federal government currently runs a debt limit of 17 trillion U.S. dollars. The debt ceiling needs to be raised to pay social security benefits, federal workers' salaries and interest payments on U.S. treasuries.

Editor: chengyang
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