GOP Promises Global Financial Catastrophe If It Doesn't Get Its Way

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A few weeks ago, Sen. Lindsey Graham (R-S.C.) said failure to raise the debt limit would lead to "financial collapse and calamity throughout the world." In the very next breath, Graham said he and his GOP colleagues would deliberately invite this calamitous fate unless Democrats agreed to slash spending, taking money out of the economy in the midst of a fragile recovery. In many respects, this is the worst, and least defensible, of the various GOP positions on the issue.

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