WASHINGTON — Treasury Secretary Timothy Geithner says Republican leaders have privately assured the Obama administration that Congress will raise the government's borrowing limit in time to prevent an unprecedented default on the nation's debt.
Geithner told ABC's "This Week" and NBC's "Meet the Press" that Republicans told President Obama in a White House meeting last Wednesday that they will go along with a higher limit.
"I want to make it perfectly clear that Congress will raise the debt ceiling," Geithner said in the interviews taped Saturday and aired Sunday.
He said the leaders told Obama that they couldn't play around with the government's credit rating. "They recognize it, and they told the president that on Wednesday in the White House," Geithner said.
But Rep. Paul Ryan (R-Wis.) said that while it was true nobody wants the country to default, it's essential to address future borrowing at the same time.
"We want cuts in spending accompanying a raising of the debt ceiling. And that is what we have been telling the White House," Ryan said. AP
Tim GeithnerFred Watkins
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