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News Link • Government Debt & Financing

GOP Leader McConnell Already Threatening To Make The US Default

This issue of the debt ceiling is a hot, hot, hot topic right now, since newly-emboldened GOP leaders are making noises about not increasing it (as used to be perfunctory). Brian Beutler at TPM Muckraker: In an interview with Fox News this evening, Senate Minority Leader Mitch McConnell said Congress would not vote to increase the nation's debt ceiling -- legislation that must pass to avoid a global economic panic -- without "strings." Those strings could be attached to anything, including health care legislation. So the threat is, basically, agree to defund healthcare, or we're going to put the US into default. That's an ironic stance, since the whole point of fiscal discipline is to avoid a Greek-like crisis and this would be manufacturing one. Hey Mitch! Republicans always talk about wanting to run the US like a business. Notice that businesses are raising money like crazy right now at these rates? Just saying.

2 Comments in Response to

Comment by Ed Price
Entered on:

Games. All games.

Who needs a Constitutional Convention if the country defaults out of operation.

Wait a minute. We could elect Eric Madsen as President of the original jurisdiction, and get out from this failing industrialized, greedy government.

Comment by Nick Barnett
Entered on:

couldn't the current sitting congress just up the debt ceiling right now? I'm definitely not saying they should... 

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