Thursday, July 21, 2011

GOP Rep. Womack Admits His Ignorance

Closed Door GOP Meeting Stresses Economic “Meltdown” Default Would Likely Cause | Rise of the Center:

"The warnings appeared to have softened the views of at least some House members who, until now, were inclined to dismiss statements by administration officials, business leaders and outside economists that the economic impact would be dire if the federal government were suddenly unable to pay its bills.

Freshman Rep. Steve Womack (R-Ark.) said the presentation about skyrocketing interest rates that could result from downgraded bond ratings was “sobering.”

“It illustrates to us that doing nothing is unacceptable,” he said. “I think the conference understands this is a defining moment for us. It’s time to put the next election aside.”


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