GOP Rep. Calls For Debt Default: ‘It Could Benefit Us To Go Through A Period Of Crisis’
Several Congressional Republicans, including Sen. Pat Toomey (R-PA), have posited that failing to raise the debt ceiling — and thus forcing the U.S. to default on some of its obligations — would not be bad for the economy. “I don’t think it’s going to have an adverse impact on the economy for the days or weeks or perhaps even months that this would continue,” Toomey said.
These “default deniers” don’t believe that failing to raise the debt ceiling would have the negative consequences that most economic analysts say it will. Radio shock-jock Rush Limbaugh even said yesterday that failing to raise the debt ceiling will improve the nation’s creditworthiness.
Rep. Devin Nunes (R-CA), though, believes that default would cause a “crisis.” But, as he told Politico, he actively wants it to happen anyway:
Nunes says the debt cap must be raised at some point but not necessarily before the point of default.
“By defaulting on the debt, in the short and long term, it could benefit us to go through a period of crisis that forces politicians to make decisions” on major policies that affect the budget, he told POLITICO.