Rand Paul says it's 'irresponsible' for Obama to talk default
By JENNIFER EPSTEIN | 10/6/13 11:05 AM EDT
Sen. Rand Paul says President Barack Obama and his aides have waded into dangerous territory by suggesting that the U.S. government might default on its debt.
“It’s irresponsible of the president and his men to even talk about default," the Kentucky Republican said Sunday on NBC's "Meet the Press." "There is no reason for us to default."
"They're the ones scaring the marketplace," he added later, repeating: "There's no reason to default."
The federal government, he said, can keep paying its interest even if the debt ceiling isn't raised and that will keep the government from defaulting. "We bring in $250 billion in taxes every month; our interest payment is $20 billion. Tell me why we would ever default. We have legislation called the Full Faith and Credit Act and it tells the president, ‘You must pay the interest on the debt.’”
For the president and his team, threats over the debt ceiling are “a game -- it’s kind of like closing the World War II Memorial," Paul said.
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