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Rokita: Default option would help cut spending

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U.S. Rep. Todd Rokita suggested Monday that not raising the debt ceiling could become a good tool for curbing federal spending, despite chances the government would default on its loans.

Rokita, an Indiana Republican, argued that the nation would not default if it prioritized paying off debt over paying for daily operations.

Even with Republicans and Democrats at odds over how to solve the ongoing budget stalemate, Rokita is one of just a few lawmakers who have publicly suggested the debt ceiling shouldn't be raised at all. Many economists have warned the economic consequences could be catastrophic if the federal government defaults.

"We have the cash flow to meet our debt, now what we don't have, necessarily, is the cash flow to pay our debt and then all the things that we want," he said on WIBC-FM Monday.

Rokita added that he understood there may be some immediate pain, in the form of mass government layoffs and economic contraction, but suggested that would improve with an "explosion" in private-side spending.

"I certainly acknowledge there would be immediate pain. But again, are we living for us in the here and now, or are we living for the children of tomorrow?" he said.

"The Daily Show" host Jon Stewart lampooned Rokita earlier this month for calling a female CNN anchor "beautiful" and describing the health care law as "insidious." But Rokita defended himself Monday, saying Stewart should look up what the term means.

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  • Time to say "No"
    Folks, it is time to stop spending money we don't have. It matters little that overpaid and underworked politicians who live by asking voters and corporations for money to re-elect them made decisions to spend money we don't have on projects we don't need. Raising taxes on the rich is not the answer, and making all citizens pay taxes (say, by having a sales or consumption tax) appears not to be the answer either. The only thing that can stop the bleeding of cash is, oh well, to stop spending. At least Todd Rokita has the guts to take a stand against the runaway, irresponsible bread and circus of self-interested politicians who buy votes with programs that are not in the nation's best interests. It is time for our elected leaders to act like responsible stewards of the public fisc instead of Robin Hood or Santa Claus. I don't get any government goodies; I just pay in. I applaud the stand.
  • You Get What You Vote For
    You get what you vote for, nothing more, nothing less.
  • Rock it's is plain wrong and crazy
    My god this guy is true lay suicidal. Also Rick stop listening to talking points and learn on your own. This is not using credit cards this is we bought a car and now refuse to pay. As for paying only some bills who is going to pick which bills Imagine 5,000 collectors standing outside your house asking for payment and you have money to pay only 20% how do you pick who to pay? Oh wait we do that already it's called bankruptcy, get it Rick and Todd ?
  • Ignorance is dangerous
    Yet another example of a simple-minded politician ignoring economists, scientists, or anyone that might challenge their ideological viewpoints. The Tea Party groups (along with some in the Republican Party) continue to demean and discredit academics and scientists to the point some Americans don't view education and intellect as something to strive towards anymore. Todd Rokita's comments are the consequence of ignorance run rampant when left unchecked.
  • Ignorant
    I walked out of a 'presentation' given by this idiot. He would have failed by introductory macroeconomics class. Lucky for him that Indiana has Sutzman - the only man in America who could make Rokita look like an intellectual
  • Please don't re-elect this man
    I don't know if Mr Rokita doesn't understand the problem, or doesn't understand the stakes, but it's academic at this point. Please don't send any more folks to Washington that put re-election and ideology SO FAR above good governance. Please?
  • A Bad Idea is a Bad Idea
    Come on now - If Rep. Rokita were a Democrat it would not make one iota of difference to anyone with a basic understanding of our world economic system. Defaulting on debt is "bad" if you are a citizen or a private company, Defaulting on debt if you are seen as the most stable and reliable economy on the planet is so far beyond "bad" that bad would need a millennium traveling at light speed to get to that point. Even implying that there are factions in the US government that are willing to risk the world economy to get their way is stupid beyond belief and exhibits a lack of understanding of basic economic truths. Republican or Democrat, anyone with this sort of fiscal death wish has no business representing our state in federal government.
  • Rokita Displays Complete Ignorance
    Todd Rokita is one of the most uninformed, perhaps ignorant is a better description, Indiana congressman I have ever seen. His lack of understanding of financial markets, revenue generation, and economics in general is disturbing. I hope the voters in his district begin to realize just how illiterate he is with respect to economic issues. He is an embarrassment to the state. Stutzman and Brooks are not far behind since they too seem to be on the same thought wave as Rokita.
    • Needs,Wants,Wold like to have
      If we have enough money to fund the laws trying to be passed there is no need to raise the borrowing limit, debt ceiling. Mr. Reid refused to pass piecemeal funding because after they fund the needed things like death benefits for service members, there would be nothing left for Obama Care. If there is not enough to fund it all our "leaders" need to figure out where to spend what we need and pull back what we don't need. We can't just adding more costs to government and borrowing more to hide from the public in taxes, how much it costs. If they passed a law that every American gets a new car next year that does not make it the right thing to do to start handing out keys the following year if it is not funded. Should we let them increase the debt ceiling so everyone can have a new car?? I know it is a tough choice but that is why they were elected to be leaders as well as stewards of our country current and future generations. Stop the borrowing, pass a budget and learn how to manage money like your first checking account. People can't just keep borrowing, they end up going bankrupt, EBT recipients can’t buy one of everything in a store, they have a limit they have to manage, or Government should have the same expectations. Plan, Budget, And Prioritize. Not Promise More, Borrow More, Spend More.
    • Idiocracy
      Todd Rokita is proving the point...as noted above, advocating a recession (which he is) would have to have a different effect than it has ever had before for if his proposed course of action were to have any measure of success. His ignorance of economics, government, history is commonplace today in our Idiocracy, and neither party has a monopoly on stupidity, although the GOP seems to have struck a new vein recently...the real Tea Party patriots roll over in their graves every time one of these phony patriots opens their mouth. Disgusting...find Todd and Rick an island somewhere so they can dooomsay and wring their hands together. As Bill Buckley once said " I would like to take you seriously, but to do so would be an affront to your intelligence"
    • nothing different
      Todd, Todd, Todd - its not suprising you think this way, your not completely wrong. BUT you arent completely right either. For those of you who follow him you notice that he typically doesnt accomplish much as his party has close eyes on him. But he needs to leasrn eceonomics from a better source - that much is for sure.
    • Seriously
      It's time to start electing people who have some basic knowledge of and experience in economics instead of yet another lawyer who has spent 95% of his career in politics. Rokita clearly doesn't understand what the debt ceiling means or the ripple effect of a default.
    • Stupid is as stupid does
      Rokita is arguing for another recession to drive down the deficit. Recessions DO NOT DO THAT. Recessions always drive up deficits because government revenues plummet while its expenses go up.
    • Come on now
      Name calling is part of the reason we are so far apart on issues. If he were a Democrat saying these things what you the reaction be? Something has to be done and at least he has the guts to throw it out there.
      • Todd Burton
        Todd Rokita seems to be a clone of Dan Burton. He never opens his mouth unless he has something ridiculous to say. Both have trouble keeping their foot out of their mouth when speaking to women.
      • proof
        Remain silent and be thought ignorant,0r speak and prove it.
      • Rokita
        Finally some common sense. This nation has lived off of its credit cards for way too long. This mentality has led the country into an abyss of entitlement and endangers its citizens far more than missing an artificially imposed date.
        • My god
          He is an idiot and an embarrassment to our State.

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