Senate Republicans May Test Deadline for Raising Debt Ceiling
ST. LOUIS (KMOX) - Senate Republicans may cross their fingers and blow past the August 2nd deadline for raising the nation’s $14.3 trillion debt ceiling, according to Missouri Republican Senator Roy Blunt.
“Of course it’s an option, because the deadline is never really a deadline,” said Blunt, “I don’t think world markets are going to get roiled and I don’t think our creditors are not going to get paid.”
Blunt’s comments come as President Obama announced he will get directly involved in the bipartisan talks aimed at ending the stalemate over borrowing and spending limits.
“If we miss the deadline, there will be additional space beyond the deadline,” Blunt said, “And if there’s not, the President is going to have to figure out what all the governors in America have to figure out when they have to deal with all the resources they have, as opposed to the resources they’d like to have.”
President Obama is expected to renew his call for allowing the Busch era tax cuts for the wealthiest Americans to expire in 2012, as part of the solution.
Blunt hinted that Republicans are savoring the standoff to spotlight their goal of even deeper budget cuts.
“The only thing worse than not raising the debt limit would be raising the debt limit and not changing behavior,” Blunt said.
Obama and Vice President Biden are scheduled to meet Monday with Senate Majority Leader Harry Reid, D-Nev., and then later in the day with Senate Minority Leader Mitch McConnell, R-Ky.