bobbyw24
06-08-2011, 06:30 AM
An idea once confined to the fringe of the Republican party is seeping into its mainstream - that a brief U.S. default might be an acceptable price to pay if it forces the White House to deal with runaway spending.
An increasing number of Republicans do not believe the Obama administration's dire predictions of economic "catastrophe" if the debt limit is not increased. They argue a period of technical default can be managed without plunging markets into chaos.
Establishment Republicans including Tim Pawlenty, the former Minnesota governor who announced his presidential candidacy last month, are backing a short-term default if it leads to deep, immediate spending cuts.
http://www.cnbc.com/id/43290858
An increasing number of Republicans do not believe the Obama administration's dire predictions of economic "catastrophe" if the debt limit is not increased. They argue a period of technical default can be managed without plunging markets into chaos.
Establishment Republicans including Tim Pawlenty, the former Minnesota governor who announced his presidential candidacy last month, are backing a short-term default if it leads to deep, immediate spending cuts.
http://www.cnbc.com/id/43290858