Boehner Warns of U.S. Default

The U.S. must raise the debt limit by October 17th to avoid defaulting on its loans.
WASHINGTON, D.C. – Speaker of the House John Boehner says the government will default on its loans if President Obama refuses to negotiate over the Affordable Care Act.

Boehner says there will not be a vote to raise the nation’s debt limit without consequences on the Affordable Care Act.

Treasury Secretary Jack Lew warns the consequences of a default could trigger a financial crises as bad as the crisis 2008 or worse.

Congress must vote to raise the debt limit before October 17th, or the U.S. will run out of money to pay its bills.
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