Ryan says grander endgame possible on debt ceiling

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So far, Senate Majority Leader Harry Reid (D-Nev.) and Obama have claimed they would not negotiate on the debt ceiling. This is a change in tactics from 2011, when a debt ceiling deal yielded the Budget Control Act (BCA). That deal came about after Boehner and Obama tried but failed to finalize a deal including Medicare cuts in exchange for higher taxes.

The BCA failed to spur a debt grand bargain and instead triggered automatic spending cuts to agency budgets known as sequestration.

“It worked, and it is in place. It just shows that triggers are real,” Ryan said of the sequester. 

The former vice presidential candidate said that, contrary to White House claims, debt limit deals have yielded large-scale budget reforms in the past. 

“Debt limit deals are usually where you get big budget agreements in the past, and we see this time as no different,” he added.