It is going to be ugly...Here is Sen. Lindsey Graham (R-S.C.) made on "Meet the Press " yesterday.
Graham was asked about raising the federal debt limit, and he acknowledged that failure to do so "would be very bad for the position of the United States in the world at large." Graham added, however, that he's nevertheless inclined to play a radical game of chicken, with the economy and the stability of the United States' role in the global financial system hanging in the balance:
"I will not vote for the debt ceiling increase until I see a plan in place that will deal with our long-term debt obligations, starting with Social Security, a real bipartisan effort to make sure that Social Security stays solvent, adjusting the age, looking at means tests for benefits. On the spending side, I'm not going to vote for debt ceiling increase unless we go back to 2008 spending levels, cutting discretionary spending."
"very bad for the position of the United States" he says. He is lying because, regardeless of the the evidence, he is not stupid. He knows that defaulting on our debt would be catastrophic, to say the least, for the world economy and it would make the melt down of 2008 look like a hiccup.
These idiots are going to play chicken with the world economy knowing that President Obama will cave on all their demands rather than see the world economy destroyed on his watch. Very ugly business.