Tuesday, May 15, 2012

Boehner: Spending cuts must top debt ceiling increase

New York (CNNMoney) - House Speaker John Boehner warned Tuesday that he won't permit another increase in the debt ceiling without a larger amount of spending cuts and reforms approved in tandem.

"When the time comes, I will again insist on my simple principle of cuts and reforms greater than the debt limit increase. This is the only avenue I see ... to force the elected leadership of this country to solve our structural fiscal imbalance," Boehner said at a fiscal summit sponsored by the Peter G. Peterson Foundation, according to prepared remarks.

Watch more Tuesday on CNN's "Erin Burnett OutFront" at 7 p.m. ET.

FULL STORY

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