Former Minnesota Gov. Tim Pawlenty is the latest GOP presidential candidate to oppose raising the debt ceiling, The New York Times reports.”I hope and pray and believe they should not raise the debt ceiling,” Pawlenty told Iowa voters last week. “These historic, dramatic moments where you can draw a line in the sand and force politicians to actually do something bold and courageous are important moments.”
He joins Rep. Michele Bachmann (R-MN), the tea-party favourite who devoted her first campaign ad to opposing a debt limit increase, and the libertarian Rep. Ron Paul (R-TX), who also opposes issuing new debt.
Treasury Secretary Tim Geithner repeated Sunday that without an increase in the debt ceiling by August 2, there would be a “disruption,” in the government’s ability to pay its bills, which would undoubtedly shake up the markets.
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