If Geithner says it won't work...then it DEFINITELY needs to be explored!
On the eve of her entry into the 2012 GOP presidential race, Rep. Michele Bachmann said 'scare tactics' are being used by those warning of an economic calamity unless Congress raises the government's borrowing limit by an August deadline.
The three-term congresswoman from Minnesota said the U.S. could avoid a default by paying only the interest on U.S. obligations while lawmakers work on a deal to cut spending dramatically as part of a new debt ceiling.
Such an approach has been derided as unworkable by Treasury Secretary Timothy Geithner."
Monday, June 27, 2011
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