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Report: Boehner tells Republicans he won’t let the nation default
The New York Times reports that House Speaker John Boehner , R-Ohio, told colleagues he is willing to pass a debt-limit increase, according to a House Republican. The lawmaker, who spoke on the condition of anonymity, said Mr. Boehner had indicated he would be willing to violate the so-called Hastert Rule if necessary to pass a debt-limit increase. The informal rule refers to a policy of not bringing to the floor any measure that does not have a majority of Republican votes. Boehner’s spokesman wouldn’t confirm the report, but agreed “that a default would be disastrous for our economy.” Earlier, the Treasury Department said the debt-limit impasse could cause credit markets to freeze, the dollar to plummet and interest rates to rise.
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