See if this sounds familiar: The White House and House Republicans appear headed toward a standoff over the debt ceiling this fall, reports NBC News. That's after John Boehner's statement this morning: “We're not going to raise the debt ceiling without real cuts in spending. It's as simple as that.” Democrats such as Harry Reid and Chuck Schumer said last week that Congress should pass an extension of the debt ceiling without strings attached, reports Bloomberg.
Both sides appear to be jockeying for public opinion, with Boehner getting out ahead of President Obama's planned speeches on the economy starting tomorrow, reports the Hill. Boehner warned that Obama would be laying the ground for tax hikes. Treasury chief Jack Lew says the nation has enough money to operate without new borrowing until about Labor Day.