Republican wants to raise national debt limit

Just weeks after voters ushered Republicans into office to help bring the nation’s fiscal woes under control and to rein in spending, the soon-to-be House Speaker Republican John Boehner wants to raise the debt limit in order to “meet the country’s obligations”, reports the Wall Street Journal.


“We’re going to have to deal with it as adults,” Boehner said. “Whether we like it or not, the federal government has obligations, and we have obligations on our part.”

Currently, the government is authorized to borrow $14.3 trillion, an amount that it will certainly hit and likely exceed