Author Topic: Growing number of Republicans insist that refusing to raise the debt limit will NOT lead to default Doomsday  (Read 401 times)

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Growing number of Republicans insist that refusing to raise the debt limit will NOT lead to default Doomsday

    GOP pols claim the U.S. can keep paying its debt obligations out of tax revenue, or use the money it saves by not paying furloughed workers
    The NY Times ran a confusing story suggesting that Republicans don't fear default, but they really argue that hitting the debt ceiling won't lead there
    Sen. Rand Paul said refusing to raise the limit on America's credit card would force fiscal discipline on the White House and Congress
    A key Democrat insists the GOP has It 'a distorted view of reality when it comes to the debt'
    President Obama will meet with the House Democratic Caucus in the East Room of the White House on Wednesday afternoon

By David Martosko, U.s. Political Editor

PUBLISHED: 08:53 EST, 9 October 2013 | UPDATED: 09:49 EST, 9 October 2013


In the midst of political wrangling over budgets, deficits and debt ceilings, a new talking point has emerged on the right side of the aisle: The U.S., say some Republicans, can continue to service its debt load long past Oct. 17 – the date when Treasury Secretary Jack Lew warns the U.S. will default on its fiscal obligations – even if Congress refuses to raise the debt ceiling.

The New York Times explored the issue Wednesday in an article under the headline: 'Many in G.O.P. Offer Theory: Default Wouldn’t Be That Bad.'

No one has argued in favor of default, but some Republicans have suggested that refusing to raise the debt ceiling would instead force the Treasury to find new ways to avoid it.

Rep. Scott Garrett, a New Jersey Republican on the House Budget Committee, told CNN's Wolf Blitzer on Tuesday that 'the nation will not default on its debts' in the absence of a debt ceiling hike.

Read more: http://www.dailymail.co.uk/news/article-2451029/Republicans-Refusing-raise-debt-limit-road-default-all.html#ixzz2hFvhfED5

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