July 12, 2011 / 10:37 PM / 7 years ago

Boehner: Several backup plans could avoid default

President Obama conducts a meeting with congressional leadership on deficit reduction in the Cabinet Room of the White House, July 13, 2011. Pictured with Obama are House Speaker John Boehner (R-OH) and Senate Majority Leader Harry Reid (D-NV). REUTERS/Jason Reed

WASHINGTON (Reuters) - Negotiators are considering several backup plans to avoid a default if they can’t reach a budget-cutting agreement before the U.S. Treasury runs out of money in early August, House Speaker John Boehner said on Tuesday.

“There are other ideas out there in terms of backup plans,” Boehner, a Republican, said on Fox News shortly after meeting with Democratic President Barack Obama and top congressional leaders. “I think everybody believes there ought to be a backup plan.”

Reporting by Andy Sullivan; editing by Philip Barbara

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