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

Boehner: Several backup plans could avoid default

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.

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

“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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