DeMint Wants “Showdown” With Democrats Over Debt Ceiling; White House Says This Is Insane
Leading Senate conservative Jim DeMint of South Carolina may make us wish Alvin Greene was elected…well, almost. He is girding for a fight with the White House and Democrats on the debt ceiling, as sane legislators will work to authorize the government to raise that ceiling.
“I think we should resist that. We need to have a showdown, at this point, that we’re not going to increase our debt ceiling anymore. We are going to cut things necessary to stay within the current levels, which is over $14 trillion,” DeMint told the conservative magazine Human Events in an interview released Monday. “So this needs to be a big showdown.”
White House economic advisor Austan Goolsbee (pictured) says this could be “catastrophic.”
“It pains me that we would even be talking about this,” Goolsbee told ABC’s “This Week.”
“This is not a game. You know, the debt ceiling is not something to toy with. … If we hit the debt ceiling, that’s essentially defaulting on our obligations, which is totally unprecedented in American history. The impact on the economy would be catastrophic. I mean, that would be a worse financial economic crisis than anything we saw in 2008.”Click here for reuse options!
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