Republican Party unity cracks over raising $14.3 trillion debt ceiling
we've all had our points in at some time on whether or not to raise the debt ceiling, now the real question for those that don't want to raise it any more: do you really want to continue to pay the lenders to this country at the expense of the poorest americans that rely on government handouts? if so, i suggest you look at why people are rioting and setting themselves on fire in tunisia, egypt, and saudi arabia right now. why ireland and greece are almost at a state of anarchy.The Republican Study Committee (RSC) introduced legislation on Wednesday that it says would allow the Treasury Department to avoid a default on U.S. debt without expanding the borrowing limit.
The legislation “ensures America’s debt rating and the threat of default on our debt cannot be used as political weapons,” said RSC member and co-sponsor Rep. Scott Garrett (R-N.J.). “This bill will remind the markets and the world that America will never default on its debt while giving Congress time to have a meaningful, reasonable discussion about how to rein in out-of-control spending.”
The RSC’s Full Faith and Credit Act would require the Treasury to pay principal and interest due on public debt before making any other payments. Sen. Pat Toomey (R-Pa.) has introduced companion legislation in the Senate.