Republicans NEED to refuse to raise this. We have a spending problem. Cut the spending. If you're going to cut the spending, you don't need to raise the debt ceiling. Thsi should not even be open to debate.
The debt ceiling will have to be raised just to operate the government. The entitlement programs and the debt servicing costs consume all of the collected tax revenue. Everything else is funded by borrowing including Defense. 43 cents of every federal dollar spent is borrowed.
>>On Tuesday night, Lawrence O’Donnell went ballistic over the possibility that Rand Paul might refuse to raise the debt ceiling.
I remember seeing that and just HOPING Senator-elect Paul would do it. The democrats are never going to grow up and act fiscally responsible. Somebody needs to cut up the credit cards before the socialists spend us into oblivion.