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Budget 101

"Budget 101" Continued...

Issue: "Upside down," April 9, 2011

But a growing number of Republicans see opportunity here. "There is no way that Bob Corker is voting for debt ceiling increase unless I know that we have taken steps to alter the direction of this country pretty dramatically as it relates to spending," said fourth-year Sen. Bob Corker, R-Tenn.

Heritage's Riedl downplays the immediate repercussions of not increasing the debt limit. He said the nation would still have enough funds to make interest payments to credit holders and avoid defaulting: "It's the best climate for spending restraint we've had."

Edward Lee Pitts
Edward Lee Pitts

Lee is WORLD's Washington Bureau chief. As a reporter for the Chattanooga Times Free Press, he was embedded with a National Guard unit in Iraq. He also once worked in the press office of Sen. Lamar Alexander.

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