National Debt Debate

By: Kassi Shelley Email
By: Kassi Shelley Email

WASHINGTON (AP) -- Republicans and Democrats aren't budging on the issue of spending cuts versus tax increases to deal with the nation's debt. House Speaker John Boehner tells ABC's "This Week" that when Congress is asked to raise the nation's borrowing cap after the election, he'll insist on spending cuts to offset the increase. Minority Leader Nancy Pelosi calls the GOP stance irresponsible. A showdown over the debt ceiling last year caused a downgrading of the U.S. government's credit rating.

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