October 9th, 2013
11:14 AM ET
6 months ago

On debt ceiling, Coburn calls for 'managed catastrophe now'

(CNN) - Sen. Tom Coburn continued to stress Wednesday that major spending cuts must take place before Congress agrees to raise the government's debt limit, which he also argued doesn't even exist.

"The debt ceiling has never not been raised, so there is no debt ceiling. And by having a debt ceiling and then raising it every time, it allows the politicians off the hook for making the hard choices," the Oklahoma Republican said on CNN's "New Day."

Coburn said he'd rather have a "managed catastrophe now" than "kick it down the road."

"We can't continue to get an increased limit on our credit card when we're not demonstrating any financial integrity in the way we run our government," he told CNN's Chris Cuomo.

The senator made his point in a more visual way on the Senate floor Tuesday, when he ripped apart a giant poster modeled after a credit card for the U.S. government.


Filed under: Debt • Tom Coburn
soundoff (28 Responses)
  1. Sniffit

    Coburn is an ideologue moron who just this week claimed, contrary to what expert economists are saying, that allowing the nation to default on its debts would not cause any problems. He is to be ignored as studiously as he himself ignores reality.

    October 9, 2013 11:19 am at 11:19 am |
  2. Sniffit

    "Coburn said he'd rather have a "managed catastrophe now" than "kick it down the road.""

    Teatroll Rosetta Stone says: "I only want to do this right now because a black Dem is POTUS...later it might be someone from our team and I wouldn't want it to happen then."

    October 9, 2013 11:21 am at 11:21 am |
  3. Sniffit

    "The senator made his point in a more visual way on the Senate floor Tuesday, when he ripped apart a giant poster modeled after a credit card for the U.S. government. "

    Sorry, but that was pointless. You carry his water by asserting he actually "made" his point. Change it to "tried to make" and it would be accurate.

    October 9, 2013 11:22 am at 11:22 am |
  4. Lynda/Minnesota

    You know, CNN. I have tried. I have tried so hard to stick with you folks over the years. I've reached my limit. The TeaParty nauseates me. I don't need Koch revenue. I don't need Koch funded talking points 24/7.

    Not only is the TeaParty destroying Americans politics, but these folks just aren't worth reading about day after day. They never were.

    October 9, 2013 11:24 am at 11:24 am |
  5. Traitors in our midst...

    To Tom Coburn, Ted Cruz, John Boehner and those who would diminish America throughout the world by their egos and self interest...

    "He who promises more than he is able to perform, is false to himself; and he who does not perform what he has promised, is a traitor to his "country."
    -George Shelley

    October 9, 2013 11:25 am at 11:25 am |
  6. Rudy NYC

    What he's saying is pure insanity. What's the difference between a "managed catastrophe" and a complete catastrophe? None.

    October 9, 2013 11:36 am at 11:36 am |
  7. chill

    Ripping giant credit cards really? What are you, a cartoon? There really should be no debt ceiling period. If Congress budgets deficit spending then it must allow the borrowing necessary to cover it. To not do that is hypocritical. And especially those who voted for the budget- or more correctly the CRs that authorized the spending- and now won't raise the debt ceiling, they are trying to have it both ways. So raise or elimiante the ceiling and then have your fight over the budget where that dispute belongs.

    October 9, 2013 11:43 am at 11:43 am |
  8. Malory Archer

    Solution to "overspending" and eliminating the debt:

    Cut the militarybudget in half. Abolish all loopholes for corporations and require them to pay an "alternate minimum tax" just like individuals are required to do. If they can't make it on their own merit, we the tax payers shouldn't be forced to supplement them.

    There, problem solved.

    October 9, 2013 11:48 am at 11:48 am |
  9. rs

    Coburn and the GOP are a vaguely "managed catastrophe" of their own. Hello, you guys enacted the shutdown. Fix it. Fix it NOW. We are not Italy, we are not Greece, we do not negotiate with parties that are economic hostage takers. Get it?

    October 9, 2013 11:51 am at 11:51 am |
  10. sonny chapman

    Lower Taxes, Lower Spending. That is the Repubs. THEOLOGY. Like many beliefs based on Faith, they can't be proved or disproved but MUST be followed at ALL Costs. However, we do have the Bill Clinton Economy vs. the George W. Bush Economy to compare theories.

    October 9, 2013 11:55 am at 11:55 am |
  11. Sniffit

    "Coburn and the GOP are a vaguely "managed catastrophe" of their own"

    Haha...more like "mismanaged catastrophe" no? :-)

    October 9, 2013 11:57 am at 11:57 am |
  12. Ol' Yeller

    Coburn has some redeeming to do... he has been labeled a RINO by the Tea Party and has been cut out of the loop. There was an article in his hometown paper about it, so he is just trying to show he can still be completely nutty like his brethren to work himself back into their good graces. Coburn not right enough?!?! ... that's insane.
    Can someone on the right (not you Rick McDaniel) please explain to us how you allowed your entire national party to get hijacked by the crazed fringe right? And, do you intend to sit idly by while they ruin the country (which includes your party), or are you going to man up and take it back?

    October 9, 2013 12:05 pm at 12:05 pm |
  13. kirk

    Lynda, I nearly lost it when I turned on CNN after work to see a rich business man who claims politics are " just a hobby" filed a lawsuit to challenge campaign regulations, namely eliminate donor limits individuals can donate. Its going to the supreme court with McConnell arguing his case, shouldn't he be busy trying to stop thus crisis? Sad sad day, I was just going to step back for a bit, these fools are draining to those of us who truly care

    October 9, 2013 12:07 pm at 12:07 pm |
  14. rs

    It is utterly astounding. Economists in the G-8, acadenic economists world-over, fed chiefs, diplomats, world leaders are all looking at the U.S. like it has just grown three heads and a horn- all because of this Republican mischief-making. The GOP goes on and on about how bad we look to the rest of the world (presumably because of the President)- all the while they aregleefully stripping away our financial and diplomatic credibility. Editors of foreign-based newspapers continue to rip the Republicans for this stunt, and foreigners ask how we "let this" happen.

    The GOP is making our great nation look like the village idiot- worse, a very self-destructive one. The GOP needs to get ahold of itself, and get rational. We cannot and must not risk the world's economic well-being to idiots who don't believe in evolution.

    We wouldn't let al qaeda or the Taliban get away with this- when do we go after our crazy domestic terrorists?

    October 9, 2013 12:08 pm at 12:08 pm |
  15. Tony

    If Republicans think that a government default would not cause serious problems, why are they threatening Obama with? If they think that a government shutdown would not cause problems, why should Obama talk with them? Obama could not spend any money without Congress's approval before the shutdown, and he still can't, with or without a shutdown.

    October 9, 2013 12:09 pm at 12:09 pm |
  16. Larry in Houston

    LOL – Is this something like what Romney used to call : a "managed" bankruptcy" ??

    October 9, 2013 12:09 pm at 12:09 pm |
  17. Bill

    Where was the Republican outrage concerning spending when "W' racked up two unfunded wars on the government credit card? I can not wait for 2014. You will see a wholesale removal of dozens of these inept clowns from Congress.

    October 9, 2013 12:16 pm at 12:16 pm |
  18. Wake up People!

    Anonymous and Lynda.....
    I feel your pain. Lynda you know you and I have discussed this before. I feel the same way you do daily. But I implore you, don't let them run you away. The RWNJ trolls are trying to take over and Fox-lite is giving them free reign.

    Stay strong sister!!

    October 9, 2013 12:18 pm at 12:18 pm |
  19. The Elephant in The Room

    Jamie Dimon, WTF are you? CEO of Bank of America, where are you? Chairman of the Board of Wells Fargo, speak up. US. Chamber of Commerce where are your cajones? These idiots in Congress have a negative financial IQ and you need to make them, FORCE THEM to raise the debt ceiling limit. President of the NYSE & NASDAQ grab these guys by the bisquits and squeeze. We need the stock market t ot ank well btefore Oct 17th. I hope the DW drops 400 points on Thursday and 800 on Frid ay.

    October 9, 2013 12:21 pm at 12:21 pm |
  20. Rudy NYC

    Bill

    Where was the Republican outrage concerning spending when "W' racked up two unfunded wars on the government credit card?
    ---------------
    Any Tea Partier would be quick to tell you that that never happened. They blame the crash of 2008 on the Democratic Congressional leaders at the time, Harry Reid and Nancy Pelosi. Never mind the fact that Republicans had run the Congress for the previous 12 years.

    October 9, 2013 12:24 pm at 12:24 pm |
  21. Data Driven

    "Managed catastrophe": the ruling doctrine of the rebels.

    October 9, 2013 12:39 pm at 12:39 pm |
  22. Tony

    In my early post, I meant to say "what are they threatening Obama with?" Alternatively, "why are they threatening Obama with it" is also a good question. It is a rhetorical question. I think I know the answer why.

    October 9, 2013 12:42 pm at 12:42 pm |
  23. Chris Barrett

    The mean-spirited faction of the elite Republican's have true "hero moderates" like Coburn. I am from Oklahoma and am not at all surprised at the display of ignorance of macro-economics displayed by Coburn. He is almost every republican shoving the middle class over the cliff. So Coburn, a sick side-kick of Supply Side economics that thinks government is like any old household economy, is fully supporting what economist Schumpeter termed "Creative Destruction"...very easy to support Coburn when you are a fat cat millionaire. You shame even one of the most retrograde states in the Union: Oklahoma!

    October 9, 2013 12:42 pm at 12:42 pm |
  24. Gunderson

    Wow,
    Old Gunderson see all you fast and free with other people's money. That Train Wreck still coming. Your Liberal Mantra still bad idea. Get out Vaudville. WITH YOUR MONEY AND MY BRAINS, WE WILL GO PLACES. Peasants, stay out of Bank, you know nothing about money. Bank full of Red Ink. You forgot to send your contribution ! You send money up Government now! We 17 Trillion in debt. Send money, now !!

    October 9, 2013 12:46 pm at 12:46 pm |
  25. Jeff Brown in Jersey

    It really is funny when you see a crises expose just how ignorant these people really are; a self made crises no less!

    October 9, 2013 12:47 pm at 12:47 pm |
1 2