Politics

Pawlenty argues against raising debt ceiling

Chad Brady (admin)
Contributor

WASHINGTON—Former Minnesota Gov. Tim Pawlenty, a likely GOP White House hopeful, called on congressional Republicans to block an increase in the limit on federal borrowing, and he proposed legislation that he said would prevent a U.S. default on its loans.

In an interview with The Wall Street Journal Sunday and in an appearance on “Fox News Sunday,” Mr. Pawlenty challenged even leaders in his own party, who have said Congress must increase the federal debt ceiling rather than risk a default that could send interest rates skyrocketing and the economy back into recession.

Mr. Pawlenty said Congress should pass legislation that would put interest and debt payments ahead of other federal spending and allow the federal government to pay its creditors as tax revenue flows in. With the surge of tax payments that come in between April and June, that would at least buy time to try to cut spending dramatically, he said.

Full Story: Pawlenty Argues Against Raising Debt Ceiling – WSJ.com

  • ToBeRIGHT

    I don’t think this is idiotic at all. All the talking heads are saying that we MUST increase the debt ceiling or face all these catastrophic results. Hogwash I say. The federal budget has been increased by massive amounts over the past two years – and substantial amounts in years before Obama took office.

    Why is it idiotic to want to reduce spending instead of putting more on the national credit card?

    Also – all of the dire warnings of what will happen if we don’t go further into debt fall on (my) deaf ears. I have heard too many times in the past 3 years that if we don’t act the sky will fall. It’s all self-serving BS that we hear from the pols. Increasing the debt limit increases their individual and collective government power. Decreasing spending disempowers them. I don’t think a disempowered government is idiotic at all.

  • GeniousIQ

    Pawlenty is acting like a moron. Easy to sit on the sidelines and say idiotic things like this, not so much when it comes to actually running the country.

  • Pingback: Tweets that mention Pawlenty argues against raising debt ceiling | The Daily Caller - Breaking News, Opinion, Research, and Entertainment -- Topsy.com