By Bernie Becker - 04/20/11 10:26 PM EDT
“Mr. Cantor believes he has found political leverage in mixing the retroactive debt ceiling debate with the forward looking debt reduction debate,” Welch added. “What he is willing to risk for this so-called leverage is a mid-air stall in America’s fledging economic recovery and the tarnishing of the full faith and credit of the United States of America.”
The House majority leader, his conference’s representative in new bipartisan deficit talks, has reiterated his stance on the debt ceiling in several statements since Standard & Poor’s said Monday it was lowering its outlook on American debt.
“With the debt limit window fast approaching, House Republicans have made clear that if the president and our Democratic colleagues refuse to accept serious reforms that immediately reduce federal spending and end the culture of debt in Washington, we will not grant their request for a debt limit increase,” Cantor said Wednesday.
The Treasury Department has said the government is expected to hit the debt ceiling in mid-May, and that temporary measures could keep the U.S. from defaulting on its debt until around July 8.