Morning Bell: “Default” Is a Red Herring in Debt Ceiling Debate

Yesterday, President Obama accused his opposition in Congress of threatening to “default” on America’s loans in order to make a political point.

I am not going to have a monthly or every three months conversation about whether or not we pay our bills because that in and of itself does severe damage. Even the threat of default hurts our economy. It’s hurting our economy as we speak. We shouldn’t be having that debate.

But the “threat of default,” as Obama called it, is a red herring.

Read more: http://blog.heritage.org/2013/01/15/morning-bell-default-is-a-red-herring-in-debt-ceiling-debate/?roi=echo3-14239664184-10979888-9e7991c935cbd5796de9b7ffb76888c8&utm_source=Newsletter&utm_medium=Email&utm_campaign=Morning%2BBell