Dave Weigel and Brian Beutler both e-mail to say that Rep. Michele Bachmann is not alone in in proposing scary, reckless, incoherent theories of how to hit the debt limit without doing any damage to the economy. Sen. Pat Toomey, whom Weigel interviewed here, has introduced legislation stating that creditors get paid off first (which would mean that the government would shut down operations to use that money to pay off investors). Beutler notes that the Treasury has already declared this plan “unworkable,” as “adopting a policy that payments to investors should...
Source: http://www.realclearpolitics.com/2011/04/22/bad_debt_ceiling_ideas_254249.html
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