During an interview with radio host Rush Limbaugh Thursday, Speaker of the House John Boehner stressed his concern about the possibility that failing to raise the debt ceiling would lead to “default” and possibly “wreak great havoc on our nation.”
“There is no deal,” he pronounced to the popular radio host, adding: “I believe we’ve got to act to prevent a default, and to prevent a downgrading of our nation’s credit rating.”
A few minutes later, Boehner (who is pushing the “Cut, Cap and Balance” plan) reiterated his concern, saying: “I’m concerned about the nation defaulting on its credit rating.”
This prompted Limbaugh to ask: “So you’re convinced that … we would be unable to service our debt if there’s a default?”
“I’m concerned that we’re getting into uncharted territory that could wreak great havoc on our nation,” Boehner answered.
This struck me as noteworthy because some conservatives have argued that the dangers of failing to raise the debt ceiling are greatly exaggerated — that as long as the nation could service our debt, we would avoid catastrophe.
Back in April, for example, Pennsylvania Sen. Pat Toomey wrote, “If Congress refuses to raise the debt ceiling, the federal government will still have more than enough money to fully service our debt.”
Clearly, with the deadline looming closer, Boehner isn’t 100 percent sold on that theory…