Senator Roy Blunt Is A Lying Liar

Senator Roy Blunt (R-MO) downplaying the risks of not raising the debt limit.

BLUNT: If you read any of the rating agencies — Standard & Poor and the other agencies — they don’t say we’re in trouble because of the debt ceiling or that we might default, they say we’re in trouble and we could be downgraded as an economy to invest in, in our bonds and everything, because we’re spending way too much money relative to our abilities to produce goods and resources.

No.

Either Senator Roy Blunt is complete liar, or, he is a victim of the vast Right-Wing Noise Machine which has been downplaying the risks of a debt default with reckless abandon. As a sitting U.S. senator he should know better either way.

Moody’s, along with several other ratings agencies, have been warning about the consequences of failing to raise the debt ceiling for months now.

Standard & Poor’s would cut the U.S. credit rating to its lowest level and Moody’s Investors Service said it will probably reduce its ranking if the government fails to increase the debt limit, leading to a default.

S&P would lower its sovereign top-level AAA ranking to D, the last rung on its scale if the U.S. can’t pay its debt, John Chambers, chairman of the company’s sovereign rating committee, said today. Moody’s said it would probably assign a position in the Aa range, or within three steps of its highest level.

This is obvious information to anyone who has even remotely been paying attention to the consequences which have been spelled out in no uncertain terms.

Here’s former adviser to John McCain and Moody’s Chief Economist Mark Zandi, who is predicting stronger economic growth in the near future, speaking almost two weeks ago on the consequences of failing to raise the debt limit.

“I think we go into recession and my forecast would be blown out of the water,” he said. “I think if we get to August 2nd and there is no debt ceiling [increase] and there has to be significant spending cuts, I think even if Congress and the administration reverse themselves days later, I think the damage will have been serious and we’ll probably be thrown into a recession.”

That seems pretty clear to me, and being a former chief economic adviser to John McCain doesn’t exactly make him a conspiracy-wielding leftie.

The utterly false claim made by Senator Roy Blunt is par for the course if you live and operate entirely within the conservative noise bubble where up is down, left is right, tax cuts create jobs, and government shutdowns and defaulting on the national debt are really no big deal.

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  • Robert Scalzi

    Yes he is JM, has been since he entered politics in MO in 1972, and in the 39 years since he entered into politics absolutely nothing has changed, he is , always has been, and will continue to be a runny turd leaking down the leg of society.

  • muselet

    Roy Blunt may be sufficiently ignorant about economics to believe what the stupider members of his caucus have to say about defaulting on our sovereign debt, but he isn’t a liar:

    It is impossible for someone to lie unless he thinks he knows the truth. Producing bullshit requires no such conviction. A person who lies is thereby responding to the truth, and he is to that extent respectful of it. When an honest man speaks, he says only what he believes to be true; and for the liar, it is correspondingly indispensable that he considers his statements to be false. For the bullshitter, however, all these bets are off: he is neither on the side of the true nor on the side of the false. His eye is not on the facts at all, as the eyes of the honest man and of the liar are, except insofar as they may be pertinent to his interest in getting away with what he says. He does not care whether the things he says describe reality correctly. He just picks them out, or makes them up, to suit his purpose.
    –Harry Frankfurt, “On Bullshit”

    I’m not sure he possesses the requisite cunning to be a bullshitter, either. The unavoidable conclusion is that Roy Blunt simply doesn’t have the brains God gave celery.

    –alopecia

  • trgahan

    Can congress at least agree that if they freeze the debt ceiling and have all future shortfalls will be extracted from the congressional salary, expense account, and benefits budget? I mean, we all need to be tighten the belt like all out fiscally responsible representives are, right?

  • http://2000ah.blogspot.com/ Edward

    What a republican lying but he is a god fearing man. oh wait they do that all the time.

  • SteelPhoenix

    The reason S&P downgraded our outlook to negative in the first place is because they think our irresponsible fiscal policy is increasingly making us a bad risk. More debt means more risk of default.

    “The revision to negative primarily reflects the fiscal story–that is, the very large budget deficits and rising government indebtedness.”
    http://www.standardandpoors.com/ratings/articles/en/us/?assetID=1245303295837

    What they want us to do is stop going into debt, start paying it down, and balance our budget, not keep raising our debt ceiling.

    • mrbrink

      Audience question: Why did you revise the outlook now?

      Beers: We’ve been taking note of what we considered to be the gradual deterioration of the U.S.’s fiscal profile over a number of years, but most recently since the end of last year, with the agreement between Congress and the administration to extend the (Bush era) tax cuts.

      (This was the trigger.)

    • mrbrink

      Also, the S&P downgrade in April only highlights the insanity of right wing posturing in the face of debt default, as is the point of this thread.

      Republicans weren’t satisfied with an S&P downgrade in April from stable to negative, a downgrade in which their policies are directly responsible, so now they’re shooting for the stars of fiscal instability and uncertainty.

      This little episode in right wing economics should further degrade our rating even if and when we decide to raise the debt ceiling.

      I wouldn’t trust the full faith and credit of the United States with Republicans pulling the strings, but that’s just me.

      But just to be clear, what “they” want us to do right now is to NOT default.

      That would be bad.

      And “revenue neutral” policies are just as crazy, by the way.