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Mon January 21, 2013
Paul To Introduce Bill Directing Priorities if Debt Ceiling Not Raised
Senator Rand Paul is upset President Barack Obama will not debate spending cuts in talks over raising the debt ceiling. Many Republicans have threatened to block any increase in the nation's debt unless the president agrees to cut the budget elsewhere.
Paul says the country is unlikely to default if the ceiling is not raised, since it brings in enough revenue to pay the debt interest every month. And the senator says the president is asking for too high a ceiling anyway.
“Incurred about 16 trillion, plus or minus, they need a little incrementally more. He wants $2 trillion more, what’s that a blank check, a credit card.”
Paul says he’ll introduce legislation that will force the administration to pay debt interest, entitlements and military budgets before paying any other bills if a debt deal is not reached.