Economy

April 10, 2011 3:08 PM

Lines drawn for next big budget battle, the debt ceiling

House Republicans, fresh from their showdown with Democrats over cuts in the current federal budget, promised Sunday to take an even tougher stand on spending next month when Congress will be asked to increase the amount of money the government is allowed to borrow. House Majority Leader Eric Cantor of Virginia and Budget Committee Chairman Paul Ryan of Wisconsin warned that the GOP won't approve raising the debt ceiling unless that increase come with spending cuts and changes in budget priorities.

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