The mind just wanders on the wonders of the Republican Party sometimes. Here we got Rep. Paul Ryan, a very SERIOUS dude I am told, who just happens to be the chairman of the House Budget Committee, saying our government debt holders would be cool if we were late with our payments.
I get physical ill listening to this fiscal shrill.
US Debt Holders Willing to Miss Payments: Rep. Ryan
Margo D. Beller, CNBC
http://www.cnbc.com/...
Holders of US government debt would be willing to miss payments "for a day or two or three or four" if it put the US in a stronger position to pay them later on, Rep. Paul Ryan told CNBC Tuesday.
"That's what I'm hearing from most people," said the Wisconsin Republican, chairman of the House Budget Committee. "What is more important is that you're putting the government in a materially better position to be able to pay their bonds later on."
How are these "most people"? Is it John Boehner calling to tell him a tearful bedtime story about how defaulting on debt won't affect our economy? This is the most fiscally irresponsible statement I have heard in quite sometime.
Does Ryan seriously think the rating agencies won't downgrade our republic if we make late payments? I mean, just think what that will do to our future loan rates not to mention the bond rates which he is pretending to protect.
This guy is chairing our budget committee? Seriously?
If we were to miss payments, future bond buyers would demand an outrageous new rate, which I guess the elite of our country, who hold most of our debt, would love. Maybe that is his end game, to get a better bond rate for his oligarchy handlers. But as a taxpayers, we would all be put under the screws so Ryan can have a few more days of infighting.
Or he could spend the next two and half months coming up with a deal, like restoring tax rates to a historically responsible position. After this statement, I'd trust Donald Trump more than Paul Ryan with our budget, though both are equally capable of making our republic bankrupt.
Some enterprising reporter should ask Ryan who most of these people are, so we all know who to shame for even floating the balloon of defaulting on our debt.