AGAIN: McConnell DOES WANT a debt ceiling increase.
AND AGAIN: Of course there has to be a debt ceiling increase. Not because of the political damage. And not for some possible Caa1 reputation or sth. But the US refinancing is enormous at current. Bush made too many debts. If you need to refinance 8 billion with an interest rate of 16%, you go bankrupt like a dead duck. Once started, it might become an avalanche. Again, if it was 2000 and Gore was in office it might be not this dangerous. BTW: but: in 1995 it was real threat as well, because debt was huge back then as well. So, McConnells position is not PARTISAN so the word "crassly political" is utter bullshit. He is some nationalist as always.
McConnell Debt Ceiling Strategy: 'I Refuse To Help Obama Reelection'
WASHINGTON -- Senate Minority Leader Mitch McConnell (R-Ky.), under siege from conservatives over his opt-out proposal for the debt ceiling debate, defended the idea in crassly political terms during an interview on Wednesday morning.
The Kentucky Republican, appearing on Laura Ingraham's program, repeatedly pointed to the political toil that congressional Republicans endured during the mid-'90s when they squared off against then-President Bill Clinton over government spending.
"[W]e knew shutting down the government in 1995 was not going to work for us. It helped Bill Clinton get reelected. I refuse to help Barack Obama get reelected by marching Republicans into a position where we have co-ownership of a bad economy," McConnell said. "It didn't work in 1995. What will happen is the administration will send out notices to 80 million Social Security recipients and to military families and they will all start attacking members of Congress. That is not a useful place to take us. And the president will have the bully pulpit to blame Republicans for all this disruption."
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