Top GOP Senator Endorses A "Game-Changer" In The Debt Ceiling Debate

jim demint

So it seems the GOP is eager to see the debt ceiling held steady, while also acknowledging the fact that a default would be a disaster.

Now some GOP Senators are pushing a new idea, which is a law that would allow the Treasury to prioritise interest payments on the debt, while still not borrowing any more beyond the limit, with the obvious constraining effect on spending.

According to The Hill, top GOP Senator Jim Demint enthusiastically endorsed this WSJ op-ed by Senator Pat Toomey.

In an email to supporters, Demint described the idea as a “game changer.”

The problem is, in the end, it’s hard for the GOP to win this, because as more and more cuts have to be made (defence, medical care for seniors, etc.) the public will freak out more and more until they get their government spending back.

Still, perhaps good news that there don’t seem to be many in this debate who are “pro-default.”

Click here for a guide to GOP spending cut proposals >

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