GOP congressman: Default would benefit the U.S.

[LetTimmySmoke]

Source: MSNBC

By now, it shouldn't be a surprise that House Republicans are against raising the debt ceiling -- unless it's joined by a significant effort to reduce spending.

But it is surprising when one GOP member says that defaulting on the debt and going through "a period of crisis" could actually be a good thing. California Congressman Devin Nunes (R) said in an interview:

“By defaulting on the debt, in the short and long term, it could benefit us to go through a period of crisis that forces politicians to make decisions” on major policies that affect the budget, he told POLITICO.

Reached for comment to explain how a period of crisis could be beneficial, Nunes spokesman Andrew House tells First Read that the congressman concedes "there would be turmoil" associated with a default. But Nunes believes that the turmoil will force Congress to make decisions to reduce the debt, ending the "idea that you can kick the can down the road."

Read more: http://firstread.msnbc.msn.com/_news/2011/05/19/6675558-gop-congressman-default-would-benefit-the-us

---

I'm not surprised by this. They are trying to realize Grover Norquist's "starve the beast" dream. What better way to do that than cause the U.S. government to go belly up by defaulting on the debt? If the economy is destroyed and untold suffering happens, who cares. As long as they achieve their goal of privatization of everything.

[Enrique]

1. shock doctrine n/t

[bemildred]

10. Yep, nothing but. nt

[Star]

21. Exactly right

I wonder if the Republicons have any real idea of what they are getting this country into? Sometimes I think they just like the power, but other times I think they really are this stupid.

[The Magistrate]

2. Idiots Electing Nihilists, Sir: Today's Republican Party

[TacticalPeek]

6. What Hizzoner said.

:thumbsup:

[left on green only]

29. Or, to phrase in the colloquail........

GOP is the sound that shit makes when flung against a wall.

[Bubba Kush]

3. Nune's right - it'll benefit US - as in the Democratic Party

and destroy GOP completely and render it completely useless.

It will be shown that GOP stands for Get the hell out of my way, Other People!

[Politicalboi]

9. One would think that would be the case

But I think the Repukes would run with the ball, and all this shit will land on the Dem's lap with the media's help. They already have people thinking Obama's spending got us here. Bush's terrible terms are all but forgotten.

[lumberjack_jeff]

4. This *should* be treason.

Section 4. The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned. But neither the United States nor any State shall assume or pay any debt or obligation incurred in aid of insurrection or rebellion against the United States, or any claim for the loss or emancipation of any slave; but all such debts, obligations and claims shall be held illegal and void.

This is from the constitution he took an oath to uphold. Our full faith and credit isn't worth shit as long as Republicans are involved.

[Old and In the Way]

8. I've been thinking along the same lines. When does proposed legislation cross over

from a different political ideology into a concerted effort to weaken and do in the USA? The proposals I'm seeing to starve this country of funding and national oversight is no less as dangerous as an out6side enemy who would try to accomplish the same goal.

[yodermon]

13. Doesn't the very concept of adebt ceiling violate this clause?

[former9thward]

16. No. That clause says we will pay our debts.

The debt ceiling creates a limit to what we can borrow to pay our bills. Two different things.

[lumberjack_jeff]

18. Don't conflate the issues.

The debt ceiling is capping the amount we borrow. The congressman is suggesting we stop paying the debts we already have.

[Name removed]

37. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Politicub]

25. If holding our entire economy hostage isn't treason, then nothing is

If the economy is allowed to collapse, all of the progress that's been made on the economy over the past couple of years will be gone in a blink.

I'm terrified at the prospect. Retirement money, home value, buying power of the dollar - it all vanishes.

I can't even fathom the scale of the devastation. The republican party has become a refuge for anarchists.

[mopinko]

35. all the constitution crazies should be painting that

on the sides of the barns. but no....

[Zoeisright]

5. What a fucking idiot.

Now there's someone who DESERVES to be homeless on the streets.

[Javaman]

23. he doesn't care, he will still get paid regardless.

until fucks like him feel the pain, nothing will change.

[atreides1]

7. I don't think anyone is surprised!

But, the only goal they might achieve is ending up like Mussolini...being used as a pinata...:shrug:

[closeupready]

11. Republicans, it should be clear, ARE going to try to skip out on social security payments.

This story underscores how fiscally irresponsible modern Republicans are. Don't know how that happened, but there it is.

The campaign commercials for his future Democratic challenger are writing themselves. Thanks, Nunes! :hi:

[plumbob]

12. So he's a farmer with farm degree and been on farm welfare all his life,

and he's going to teach me something about fiscal responsibility?



Really?

Nunes graduated from Cal Poly San Luis Obispo, where he received a bachelor’s degree in agricultural business and a master’s degree in agriculture.



Must make a note to discourage any of my graduating students from considering Poly - apparently the stupid is strong there.

[wilt the stilt]

14. You should default on your house

because I know that it will benefit you in the long run.

[sakabatou]

15. Goons holding US hostage

[damntexdem]

17. Hey, would the U.S. also benefit from attacking itself with nuclear weapons?

What a disgrace that idiots like Nunes can get elected to any position, much less to Congress.

[gratuitous]

19. A true "I got mine" libertarian type

The giveaway is the concession that "there would be turmoil," but you know that in his own mind, Nunes doesn't think any of that turmoil will be visited on his lil punkin haid. The people who will be inconvenienced aren't him or his pals, so let's get this party started. Of course, when his fair share of abuse comes a-calling, he'll be the loudest to squawk about how unfair it all is, and how he needs help right fucking now.

[BREMPRO]

20. this proves there is a segment of the ultra right that actually wants the economy to tank

because not raising the debt ceiling will do that for sure.. and help them politically... they don't give a ff about the economy.. only their political fortunes.

and ironic because the pukes are the ones that caused the exploding deficit...

somehow have grabbed the mantle of "fiscal responsiblity" despite their causing the majority of the deficit problem..

WOULD SOMEONE PLEASE TAKE ON THIS BS AND FIGHT!!!

[AndyTiedye]

24. They Probably Shorted Everything and are Counting on a Crash

It would make perfect sense for these Repigs' paymasters to short on everything, banking on a default and a hard crash, and then make sure it happens.

It would be a win-win for them. They make out like bandits (which they are), and their toadies in the media shift the blame for the mess to Obama,
delivering a Repiglickin sweep in the 2012 elections. What's not to like, if you're a robber baron?

[Javaman]

22. You know, my birthday being on August 2nd, I always wanted something

cool to happen on that day.

What did I get other than the first Lincoln penny being minted?

Saddam invaded Kuwait.

Now it seems if nothing is done about the debt ceiling, it will be known as the day the US defaulted.

Yay...happy birthday to me.

[JDPriestly]

26. Shock Doctrine -- It's blatant. It's here.

Let the poor suffer. That's what he is saying.

[w4rma]

27. I agree. Let's default. I don't think he'll get the results he expects, though. (nt)

[TomCADem]

28. He Means Beneficial In That The Ensuing Economic Crisis Will Clear The Way For GOP 2012 Victory...

...since Republicans are rarely held accountable.

[Fool Count]

30. Well, that depends on what "benefit" means.

It is certainly true that following the default US could negotiate a massive "haircut" with its creditors,
or it could simply buy out the outstanding debt on the market for cents on the dollar. That would potentially
save few trillions in addition to hundreds of billions they are paying now annually in interest. It would
also put an end to the USD being the world's reserve currency and all the advantages US derives from that
status. Another down side will be the epic global financial crisis that default would cause via the liquidity
squeeze due to US creditors in turn defaulting on their debs and their creditors defaulting on theirs and so on.
Frankly, the current US debt is so massive and so close to becoming unmanageable that it is now not a clear
"slam dunk" to decide what is more "beneficial" - paying it off in full or suffering the fallout from some
form of default. No matter what the US government decides to do, no doubt, it will be more "beneficial" to its core
constituents - the international big business interests - and less "beneficial" to the rest of us.

[daleo]

33. It would make the global bond market go crazy

If the U.S. defaults on treasury bills, what debt would be trustworthy? Everybody would be tempted to skip out.

Nonetheless things are bad, and I have a hunch this just might be the way it goes.

[Endangered Specie]

31. "Fiscal conservatives" my ass

[and-justice-for-all]

32. No, it would benefit the GOP/tea bagger's agenda...

that is all.

[Mr. Jefferson]

34. going through "a period of crisis" is something that is surely on the horizon;

however, it will not be a good thing.

[high density]

36. The modern day GOP: dreaming of a period of crisis

This is what happens when people who hate government are elected to run government.