Conservatives doubt House can stop debt crisis

7/26/2011

WASHINGTON — The White House threatened Tuesday to veto legislation pending in the House to avert a threatened default, a pre-emptive strike issued as Speaker John Boehner labored to line up enough votes to pass the measure.

Boehner faced criticism from some conservatives in advance of an expected vote on Wednesday.

The bill would raise the debt limit by $1 trillion while making cuts to federal spending of $1.2 trillion — an amount that conservatives say is insufficient.

The measure also would establish a committee of lawmakers to recommend additional savings of $1.8 trillion, which would trigger a $1.6 trillion increase in the debt limit if enacted.

The White House objects to the requirement for a second vote before the 2012 elections.