Tags: Economic- Crisis | Obama Budget | Grover Norquist | debt ceiling | default | obama budget

Norquist: Dems Lie on Default Risk

By Dan Weil   |   Monday, 11 Apr 2011 12:14 PM

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.”

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