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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsMany in G.O.P. Offer Theory: Default Wouldn’t Be That Bad....'they simply don't believe it'
these fuckers are completely out of their minds....'they simply don't believe it'
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WASHINGTON Senator Richard Burr, Republican of North Carolina, a reliable friend of business on Capitol Hill and no ones idea of a bomb thrower, isnt buying the apocalyptic warnings that a default on United States government debt would lead to a global economic cataclysm.
We always have enough money to pay our debt service, said Mr. Burr, who pointed to a stream of tax revenue flowing into the Treasury as he shrugged off fears of a cascading financial crisis. Youve had the federal government out of work for close to two weeks; thats about $24 billion a month. Every month, you have enough saved in salaries alone that youre covering three-fifths, four-fifths of the total debt service, about $35 billion a month. Thats manageable for some time.
As President Obama steps up his declarations about the dire consequences of not raising the debt limit, increasing numbers of Congressional Republicans are disputing that forecast, as well as the timing of when the Treasury might run out of money and the implications of a default, further complicating the negotiating situation for both Mr. Obama and Speaker John A. Boehner, who must find a way out of the impasse.
Both men were counting on the prospect of a global economic meltdown to help pull restive Republicans into line. On Wall Street, among business leaders and in a vast majority of university economics departments, the threat of significant instability resulting from a debt default is not in question. But a lot of Republicans simply do not believe it.
http://www.nytimes.com/2013/10/09/us/politics/many-in-gop-offer-theory-default-wouldnt-be-that-bad.html?hp&_r=0&pagewanted=print
LiberalLoner
(9,762 posts)riderinthestorm
(23,272 posts)Horrifying incompetence and stupidity.
Bok_Tukalo
(4,323 posts)<POE>
riqster
(13,986 posts)People who deny consensus reality are far from uncommon. But rarely do they occupy positions of authority.
City Lights
(25,171 posts)They really do live in their own reality.
Candidates should be forced to take an IQ test before being allowed to run for office. Their ignorance is absolutely stunning.
L0oniX
(31,493 posts)TwilightGardener
(46,416 posts)Ours is reality-based.