House Speaker: Nation won't default on debt

Speaker John Boehner has told peers in the House of Representatives he will work to avoid a federal default on debt and is willing to pass a measure that depends on Democratic support, according to the New York Times.

The Times cites an unnamed Republican lawmaker as a source who spoke on condition of anonymity. Boehner reportedly said he would be willing to go against the informal Hastert Rule, which refers to not bringing to the floor measures that don’t have the support of a majority of Republicans.

A spokesman for Boehner acknowledged the idea that a default should be avoided, but fought against the notion that the speaker would move forward with a debt-limit increase with a majority of Democratic votes.

Several Republican legislators said Boehner would do whatever was necessary to prevent the country from defaulting on its debt.

Read more at the New York Times.