Boehner: I'll Lay Out My Plan Tomorrow

House speaker wants to avoid spooking Asian markets
By John Johnson,  Newser Staff
Posted Jul 23, 2011 4:09 PM CDT
Boehner: I'll Lay Out My Plan Tomorrow
President Obama meets with House Speaker John Boehner Saturday.   (AP Photo/Carolyn Kaster)

John Boehner was nice enough to wait until after the US markets closed on Friday to announce he was bailing on the latest debt ceiling talks. And now he's got some different markets to worry about—the ones in Asia. As a result, the House speaker promised today to unveil a new strategy by tomorrow afternoon to raise the ceiling and avoid default by Aug. 2, reports Politico.

Boehner announced the move today in a conference call to fellow Republican lawmakers, and the specifics of his plan are still being worked out. It could involve a short-term increase in the debt ceiling paired with spending cuts of equal or greater value, reports the Washington Post. "Don't worry, I'll be strong," he reportedly told colleagues. Boehner and other top lawmakers met for less than an hour today with President Obama. (More John Boehner stories.)

Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.