While President Obama is using “scare tactics” on the debt ceiling, a deal should still be reached this week to avoid hitting the United States’ borrowing limit, according to Sen. Rand Paul.
“I think it’s not a good idea to go through the debt ceiling deadline,” Paul said on CNN’s State Of The Union. "I think we should go ahead and have an agreement in advance.”
The Kentucky senator had made previous comments on Wednesday about Obama using “scare tactics” in his warnings about Republican debt ceiling brinkmanship.
“We’ve got plenty of money to keep paying our interest,” Paul told Fox News.
While Paul still insists that Obama is being “irresponsible” by scaring people, he now says a deal should be struck in advance of Thursday, which is when the U.S. Treasury expects to decide on measures by which to avoid debt limit.
The White House had repeatedly warned Congress of passing the deadline to raise the debt limit. Last week, Obama accused Republicans of saying that they would default on America’s debt so that America for the first time in history does not pay its bills,” if they did not get “100 percent their way,” according to CNN.
Paul said that’s something he wouldn’t let happen.
“We’re not going to establish that pattern,” Paul said.
But Paul argued the country has enough money to pay the interest off its debt and “there’s absolutely no reason ever to default, and a good leader would be saying we will never default.”
“Not raising the debt ceiling means you have to balance your budget,” he continued. “It doesn’t mean you have to default.”
Sources: Huffington Post, CNN