Treasury Secretary Jack Lew
The Obama administration is stepping up pressure on the Senate to hold off on another round of Iran sanctions as Western powers test Tehran’s willingness to scale back its nuclear aims.
House Speaker John Boehner will ask House Republicans for a short-term debt ceiling increase in an effort to avoid a default, The Associated Press reports.
U.S. Rep. Mike Pompeo said Monday he would “absolutely not” vote to raise the debt ceiling without spending cuts, downplaying the possibility of a U.S. default that has already made global markets nervous.
The United States moved closer to the possibility of the first-ever default on the government’s debt Sunday as Speaker John Boehner adamantly ruled out a House vote on a straightforward bill to boost the borrowing authority without concessions from President Barack Obama.