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Sen. Mike Lee (R-Utah), a founding member of the Senate's Tea Party Caucus, has pledged to filibuster legislation to increase the debt ceiling.
Lee said a filibuster could be averted only if Senate Majority Leader Harry Reid (D-Nev.) and GOP leader Mitch McConnell (Ky.) reach an agreement to pass a balanced-budget amendment through the Senate.
"The only scenario in which I can imagine not using the filibuster is if the leadership of both parties agree that as a condition of that they would first pass out a balanced-budget amendment."
Originally posted by Schaden
Not raising the debt ceiling would cause a default. A default would cause interest rates to skyrocket which would cost us more in the long run that raising the debt ceiling.
And I wonder if this Senator from Utah voted to lower taxes on millionaires and to rescind the estate tax so that more "old" money could stay in the hands of the nation's wealthiest families ?