GOP Congressman supports default: "it could benefit us to go through a period of crisis"

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Rep. Devin Nunes (R-Calif.) ... says the debt cap must be raised at some point but not necessarily before the point of default.

“By defaulting on the debt, in the short and long term, it could benefit us to go through a period of crisis that forces politicians to make decisions” on major policies that affect the budget, he told POLITICO.

http://dyn.politico.com/printstory.cfm?uuid=A137E22C-38E7-4A5E-8CDB-AB4784736AD7

[Mr. Big Dog 10,747]

These guys have no clue. And a hell of a lot of it.

[one...two...tree 2,762]

Rep. Devin Nunes (R-Calif.) ... says the debt cap must be raised at some point but not necessarily before the point of default.

"By defaulting on the debt, in the short and long term, it could benefit us to go through a period of crisis that forces politicians to make decisions" on major policies that affect the budget, he told POLITICO.

http://dyn.politico....DB-AB4784736AD7

His own state would fall into oblivion, taking him with it.

[^_^ 5,021]

These guys have no clue. And a hell of a lot of it.

Default is good! That's the new GOP mantra!

[Mr. Big Dog 10,747]

Default is good! That's the new GOP mantra

Yep, the good ole' days.

[^_^ 5,021]

This is will be something on a whole other level. The US didn't default back then.

[Mr. Big Dog 10,747]

This is will be something on a whole other level. The US didn't default back then.

People ought to wrap their head around the idea that a US default would result in making the Great Recession we're climbing out of look like a minor dent in the economic growth of the early 21st century. The Great Depression would, all of a sudden, not be considered all that great anymore. We sure would stop worrying about debt and deficit and rather worry about whether the money I had in the bank is still there or worth a damn. The worry would shift from the federal debt to what - if anything - you'll put on the table for dinner. The Rethuglicans are an outrage these days. Seriously. I hope we can just make it through 2012 and get rid of these idiots.

[^_^ 5,021]

People ought to wrap their head around the idea that a US default would result in making the Great Recession we're climbing out of look like a minor dent in the economic growth of the early 21st century. The Great Depression would, all of a sudden, not be considered all that great anymore. We sure would stop worrying about debt and deficit and rather worry about whether the money I had in the bank is still there or worth a damn. The worry would shift from the federal debt to what - if anything - you'll put on the table for dinner. The Rethuglicans are an outrage these days. Seriously. I hope we can just make it through 2012 and get rid of these idiots.

In fairness, Rep. Nunes is the only Republican I'm aware of to actually be welcoming default. Everyone else seems to understand how catastrophic it would be.

That said, it is outrageous that a sitting member of the U.S. House of Representatives would say this. If the financial markets begin to think American politicians are serious about allowing default, then say bye bye to the equity markets for the next two decades or more.

[Pooky 3,804]

People ought to wrap their head around the idea that a US default would result in making the Great Recession we're climbing out of look like a minor dent in the economic growth of the early 21st century. The Great Depression would, all of a sudden, not be considered all that great anymore. We sure would stop worrying about debt and deficit and rather worry about whether the money I had in the bank is still there or worth a damn. The worry would shift from the federal debt to what - if anything - you'll put on the table for dinner. The Rethuglicans are an outrage these days. Seriously. I hope we can just make it through 2012 and get rid of these idiots.

Default into oblivion ... spend into oblivion ... the only real difference is how quick we get there.

[Obama 2012 1,714]

the FED would not allow the US Government to Default.

They have too much to lose.

Even if the ceiling were not raised, something would be 'worked out.'

Of course, we should have let the bottom fall out in 07/08 instead of bailing everyone out.

When you hit the bottom, things can only go back up.

So people suffer for awhile... Maybe it'd teach them to stop electing the same imbeciles decade after decade.

[^_^ 5,021]

the FED would not allow the US Government to Default.

They have too much to lose.

Even if the ceiling were not raised, something would be 'worked out.'

Of course, we should have let the bottom fall out in 07/08 instead of bailing everyone out.

When you hit the bottom, things can only go back up.

So people suffer for awhile... Maybe it'd teach them to stop electing the same imbeciles decade after decade.

You sound like a man with nothing.

[Mr. Big Dog 10,747]

In fairness, Rep. Nunes is the only Republican I'm aware of to actually be welcoming default. Everyone else seems to understand how catastrophic it would be.

You missed the other threat.

[one...two...tree 2,762]

Default into oblivion ... spend into oblivion ... the only real difference is how quick we get there.

Spending isn't problem. Revenue shortage is.

[Mr. Big Dog 10,747]

Default into oblivion ... spend into oblivion ... the only real difference is how quick we get there.

There's no question that the budget needs to be fixed. But default isn't the way to get there. That's gotta be understood and the political rhetoric should not even begin to pretend otherwise.

[Mr. Big Dog 10,747]

Of course, we should have let the bottom fall out in 07/08 instead of bailing everyone out.

You make no sense. Those that were bailed out have since contributed to the economy. Detroit is posting profits again. They keep people employed who pay taxes and spend money they earn which keeps other people employed spending money and paying taxes. It's an upward spiral. It's how it works. The bailouts have not been much of an expense at all.