Republicans still firmly against raising debt ceiling without big cuts

Sen. Mitch McConnell and presidential candidate Tim Pawlenty reiterate opposition to raising the U.S. debt ceiling without major moves to slash the deficit.

Reporting from Washington — Two top Republicans said on Sunday they oppose raising the nation's debt ceiling without major moves to slash the federal deficit, a stance that suggests the GOP may be heading toward a high-stakes showdown with Democrats as the deadline for congressional action nears.

Senate Republican leader Mitch McConnell (R-Ky.) said on NBC's "Meet the Press" that he is prepared to keep the ceiling in place "unless we do something really significant about debt and deficit.''

Former Minnesota Gov. Tim Pawlenty, a Republican candidate for president, also challenged the Obama administration's contention that failure to lift the debt limit would trigger an unprecedented default.

The U.S. has until Aug. 2 to raise the $14.3 trillion debt ceiling, according to Treasury Secretary Timothy F. Geithner. Failing to act would invite "catastrophic'' consequences, Geithner has said: Military service members would not get paid, retirement investments would drop in value, and people would face higher payments on mortgages and car loans.

Read more: http://www.latimes.com/news/nationworld/nation/la-na-gop-debt-ceiling-20110530,0,980818.story

damn little to do with the fall of the USSR.

begin making cuts.

and that's something that we ALL ought to be screaming at the top of our lungs. Say it with me. THIS IS A BLUFF!

Wall Street WANTS the debt limit raised, so it WILL be raised. When was the last time you saw a Republican legislator go against Wall Street?

But here's something else to keep in mind. Wall Street ALSO wants to shred the social safety net, so they WILL back the bluff as long as they can. However, when it comes down to it, the debt limit WILL be raised whether there are ANY cuts or not.