Norquist: Dems Lie on Default Risk

Monday, 11 Apr 2011 12:14 PM

By Dan Weil

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Democrats in Congress and the White House have warned that a failure to increase the debt limit would lead the government to default on its debt, throwing financial markets into turmoil. But Grover Norquist, president of Americans for Tax Reform says default can be avoided without lifting the debt ceiling.

Grover Norquist
“This has been exposed as a political ploy, not a real concern, by Sen. Pat Toomey, R-Penn., who has introduced legislation that would instruct the federal government to pay debt obligations first,” he writes on Politico.

“It would avoid any threat to the American government's creditworthiness. The Democrats have opposed this for transparent reasons: they want to borrow more. … Hence they cite the ‘disaster’ of failing to pay interest on the debt at the same time they oppose the law that would end the threat.”



© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Mali's Islamists Withdraw Cease-Fire Pledge

Friday, 04 Jan 2013 13:06 PM

Tens of thousands of Fatah supporters rallied in the Hamas stronghold of Gaza on Friday for the first time since they we . . .

Fmr. CIA Director Hayden: Iran Nuclear Crisis Gets 'Scarier'

Tuesday, 17 Jul 2012 18:11 PM

 . . .

Join Fmr. CIA Director for Special Iran Briefing, Assess the Danger

Friday, 13 Jul 2012 12:27 PM

 . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved