A showdown between Democrats and Republicans is looming after Obama warned that he will not negotiate on the debt limit.
Read more at http://conservativeread.com/some-conservatives-warn-republicans-against-debt-limit-fight/#wiBobivxFUzbsLzA.99
Democrats and Republicans are still gauging how best to position themselves for the upcoming debt limit fight, as well as additional battles over steep automatic government spending cuts due to begin on March 1. That will be followed by a March 31 deadline for either enacting additional funding measures or shutting down government agencies.
Boehner said that the debt limit is “one point of leverage” but not the “ultimate leverage.” That, he was quoted saying, is the automatic spending cuts known as the “sequester.”
The article spells out the schedule for “sequester”. It will be interesting to see what happens between now and March 31.
The present projections are: The debt will increase from $16 trillion… to over $22 trillion in ten years.