Cole, Coburn Differ On Debt Limit Fallout
Veteran Oklahoma lawmakers differ on potential fallout from breaching debt ceiling By Chris Casteel
WASHINGTON — As the White House deadline for raising the nation’s debt ceiling nears, two veteran Oklahoma lawmakers have expressed vastly different viewpoints this week on the potential consequences of failure to approve more borrowing.
In a speech on the Senate floor and in media interviews, Sen. Tom Coburn, R-Muskogee, has dismissed the risk of defaulting on the nation’s debts and downplayed the effects of breaching the debt ceiling.
Rep. Tom Cole, R-Moore, countered Wednesday that not raising the debit limit would be “a big deal.”
The current standoff over funding the federal government has effectively merged with the always contentious issue of raising the debt limit so more money can be borrowed to pay creditors and meet financial obligations.