US House Speaker Boehner refuses to support debt limit increase without spending cuts

FXstreet.com (Barcelona) - US House Speaker John Boehner said on Tuesday that House Republicans would not back a debt ceiling increase until President Barack Obama agrees to solid spending cuts.

“We’re not going to raise the debt ceiling without real cuts in spending,” Boehner said at a press conference on Capitol Hill. Barack Obama refused earlier to negotiate over the debt limit.

Tomorrow the US President is due to give a speech in Illinois on the US economy.