Do as we say, not as we said
Thanks to Think Progress for compiling a list of things said by some of those now insisting that the debt-ceiling deal cannot include any tax increase, and even that not getting a deal done by the drop-dead August 2nd date really wouldn’t be that big a thing. This nonchalance is not shared, however, by economists, credit rating agencies like Moody’s and Standard and Poor’s, and the head of the IMF, nor was it formerly shared by some now accusing the rest of us of acting like Chicken Little.
We’re at 15 percent revenue, and historically it’s been closer to 20 percent. We’ve never had a war without a tax, and now we’ve got two. … Absolute bull***t.” Former Sen. Alan Simpson (R-WY), June 29
“The result is that our government now needs to keep its promise to the American people, to all of various entitlement programs, but maybe most especially the program that that elderly woman asked about this morning. We must raise the statutory debt limit.” Rep. Mike Pence (R-IN), in 2002
“Let me tell you what’s involved if we don’t lift the debt ceiling: financial collapse and calamity throughout the world.” Sen. Lindsey Graham (R-SC), in January
As the U.S. creeps closer to hitting its legal borrowing limit, several congressional Republicans have begun to claim that failing to raise the nation’s debt ceiling would not be a bad thing for the economy. They continually say that the Treasury Department will be able prioritize payments from the tax revenue that comes in on a daily basis, despite repeated warnings from Treasury and budget experts that such a plan is untenable.
In an interview with Bloomberg News, former Republican Sen. Pete Domenici (NM) expressed exasperation with the way the current crop of GOPers is handling the debt ceiling debate:
“The debt’s coming due, and they say it isn’t coming due,” Domenici said in a recent interview. “They’re wrong.”
He expressed frustration that his party may be willing to let the debt limit be ruptured. “Who do we get?” he asked. “Bring God down, Christ” to make the case against doing so? [...]
He said Republicans, particularly in the U.S. House, “have got to listen to another radio because it’s not the way they’re telling them.”