Today, Republican Senator Lindsey Graham told ABC’s Jonathan Karl (while seated in what I initially, and excitedly, mistook for a carnival ride) that he “bets” the debt ceiling will not be raised August 2nd and that the United States will very likely default on its debt.
He explained his reasoning:
Because, how do you get there from here? How do you get the debt ceiling raised? The President says he’s not going to do a short-term extension, our guys are saying we’re not going to generate any new revenue, they’re saying we’re not going to do it without new revenue. Well, somebody’s got to blink here. The middle ground, to me, would be to take money you generate from closing loopholes, apply it to the deficit as well as reducing tax rates. That’s the only middle ground I see.
Graham also believes we’re due to face a “disaster” either way, regardless of whether talks drag on or the debt ceiling is raised.
Watch the interview, courtesy of ABC News:
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