Tags: Debt Showdown | House Conservatives

Some in GOP Doubt Default Would be Catastrophic

Wednesday, 13 Jul 2011 03:02 PM

WASHINGTON (AP) — Some congressional conservatives are discounting their own leaders' claim that defaulting on the nation's debt would be disastrous.

GOP presidential hopeful Michele Bachmann was one of three House members Wednesday who proposed a bill to guarantee military personnel and others would get paid if President Barack Obama and congressional Republicans cannot agree to raise the nation's debt limit by Aug. 2. It wasn't clear that any leaders supported the bill.

Iowa Rep. Steve King said "Excuse me for trying to lead," using Speaker John Boehner's words to Obama during the tense talks.

They were pushing back on claims by Obama, Boehner and others that default could destabilize the national and global economies. Obama has said he cannot guarantee Social Security recipients would receive checks past Aug. 2 without an agreement.

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