Republican presidential candidate Ron Paul dismissed House Speaker John Boehner’s call for spending cuts to match any increase in the federal debt ceiling. A fiscal catastrophe is coming whether or not the country exhausts its borrowing power, he said.
“I don’t take it seriously,” the Texas congressman said of Boehner’s demand. Paul predicted Congress would “go up to the last minute” before the Aug. 2 deadline and then raise the nation’s $14.3 trillion legal debt limit, yet fail to solve the problems underlying the nation’s soaring deficits.
“The catastrophe comes regardless, because as long as they encourage more spending, then we go over a cliff,” Paul said in an interview for “Political Capital with Al Hunt,” airing this weekend. “So I want to stop us,” said Paul, who said he will vote against raising the limit.
He dismissed discussion of a cap on future spending, saying it would be “too little, too late.”