House Speaker Paul Ryan of Wisconsin speaks at a news conference on Capitol Hill in Washington on Thursday. Ryan is confident that Congress will meet the deadline to raise the government’s borrowing cap.
House Speaker Paul Ryan of Wisconsin speaks at a news conference on Capitol Hill in Washington on Thursday. Ryan is confident that Congress will meet the deadline to raise the government’s borrowing cap.Andrew Harnik/Associated Press

Ryan says, “The debt ceiling issue will get resolved.” He spoke a day after Treasury Secretary Steven Mnuchin warned lawmakers that Congress needs to vote to increase the almost $20 trillion borrowing cap before taking its annual August vacation.

It had been previously assumed that lawmakers wouldn’t have to vote on the debt limit until sometime this fall.

Conservatives are pressing to include spending cuts in any debt legislation as a condition of voting for a debt hike. Ryan didn’t address the idea, but such spending cuts would likely drive away potential Democratic support.