Cancel 2018. 3
<-- sched 2, MJ sched 1
White House: No plan B on debt ceiling
Washington (CNN) - Obama administration officials declared Wednesday that there is no fallback plan if Congress fails to lift the nation's $14.3 trillion debt limit by August 2, and they warned that inaction could spark a series of catastrophic events.
"There really is no alternative to raising the debt limit," one senior administration official said at a briefing with reporters. "There is no plan that can preserve our credit worthiness."
A second senior administration official also pushed back on the claim by Sen. Pat Toomey, R-Pennsylvania, that the administration is using "scare tactics" on the issue and asserted that a failure to raise the debt ceiling would be "disruptive" but not "catastrophic" to the economy.
http://politicalticker.blogs.cnn.com/2011/05/18/white-house-no-plan-b-on-debt-ceiling/?hpt=T1
where is the outrage over fear mongering? if it is going to be so catastrophic....why doesn't the leader of the free world have a plan B?
Washington (CNN) - Obama administration officials declared Wednesday that there is no fallback plan if Congress fails to lift the nation's $14.3 trillion debt limit by August 2, and they warned that inaction could spark a series of catastrophic events.
"There really is no alternative to raising the debt limit," one senior administration official said at a briefing with reporters. "There is no plan that can preserve our credit worthiness."
A second senior administration official also pushed back on the claim by Sen. Pat Toomey, R-Pennsylvania, that the administration is using "scare tactics" on the issue and asserted that a failure to raise the debt ceiling would be "disruptive" but not "catastrophic" to the economy.
http://politicalticker.blogs.cnn.com/2011/05/18/white-house-no-plan-b-on-debt-ceiling/?hpt=T1
where is the outrage over fear mongering? if it is going to be so catastrophic....why doesn't the leader of the free world have a plan B?