With the possibility of a June 1 U.S. default looming, the ranking Democrat on the House Budget Committee, Pennsylvania Representative Brendan Boyle, believes that the central negotiating points regarding raising or suspending the debt ceiling are the extent and duration of future spending cuts. According to him, the duration and severity of spending caps make up 90% of the negotiations. Boyle also stated that House Republicans must abandon their push for up to 10 years of domestic discretionary spending caps since White House and congressional Democrats will not agree to cuts of such duration, regardless of their size. Boyle is optimistic that a deal can be reached soon. However, he thinks that the projected June 1 deadline is real, and financial analysts’ assumption that a deal will be struck to avoid default is dangerous. Boyle also described himself as nominally optimistic about the chances of default, but he thinks it is possible. Boyle rated a discharge petition as a “long shot,” and using the 14th Amendment as the “least bad option” if negotiators cannot reach a deal.
