Boehner Presents Debt Limit Plan to Wall Street

Monday, 09 May 2011 10:31 AM

By Dan Weil

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No one is more concerned about making sure the debt limit is raised than traders and investors on Wall Street. They are worried that if the $14.3 trillion ceiling isn’t lifted, the U.S. government will default on its debt, sparking another financial crisis. So it’s no surprise that House Speaker John Boehner will give a speech to the Economic Club of New York on the issue Monday, as Politico reports.

boehner, debt, planHe will let listeners know that he believes a debt limit increase must be linked to Medicare reform. Boehner will say there needs to be “an honest conversation” about Medicare, because it’s on an “unsustainable path if changes are not made,” sources familiar with the speech tell Politico.
He’s also expected to voice his opinion that the deficit be cut immediately, as opposed to Democrats’ wish for deficit targets.




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