Majority Leader Cantor (R-VA) has just said that the House GOP will just let the debt limit expire

[Tx4obama]

Majority Leader Eric Cantor (R-VA) has just said that the House GOP will just let the debt limit expire. Without doing anything.
Once things get really bad, then they'll talk.

http://www.talkingpointsmemo.com/archives/2011/04/up_ag...

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Cantor: U.S. Will Hit Its Debt Ceiling

House Majority Leader Eric Cantor (R-VA) suggested Tuesday that Congress will allow the country to hit its debt ceiling, and continue to hold out for dramatic spending cuts while the nation approaches a genuine default.

"I think Treasury has, if I'm not mistaken, has put ... out a notice that there is a window within which we have to act in order to avoid the eventual default of this country on its debt," Cantor told reporters at his weekly Capitol briefing. "And I believe that that outside deadline is early July."

The country will hit the debt ceiling well before early July. In letters last week, Treasury Secretary Timothy Geithner warned Senate Majority Leader Harry Reid (D-NV) and House Speaker John Boehner (R-OH) that the country will hit its debt limit no later than May 16. If Congress hasn't acted by then, the Obama administration will have to take unusual measures to avoid a default -- but they can only buy themselves about six weeks. By about July 8, the country will be in default no matter what.

Republicans view that "outside deadline" as the actual deadline, which means they're ready to walk to the brink if it means securing yet-to-be-named concessions.

Full article here: http://tpmdc.talkingpointsmemo.com/2011/04/cantor-us-wi...