Governor Daniels is blaming President Obama for the impasse over the debt ceiling. According to Daniels, “everyone except the president” has recognized a need to bring spending under control. But he‘s offering fellow Republicans a word of caution.
“I would say to those on my side of the argument, you‘re making the right points,” said Daniels. “Let‘s get as much of a start at this as we can, honor the nation‘s past bills, which you did not create, and then let‘s open the discussion about what we do next.”
Daniels said Congressional Republicans need to accept that they can‘t solve the problem in a single stroke. Daniels added Republicans need to take whatever immediate spending cuts they can get, raise the debt ceiling, and immediately turn their attention to what to do next to roll back spending. Daniels said those republicans who have suggested letting the nation‘s borrowing authority expire have “good intentions,” but said they don‘t understand the catastrophic results of a debt default.
“You‘d probably have a big run-up in commodity prices, because the world would assume we‘re just going to print money and inflate away some of the debt we have. The first thing you‘d see is probably five, six-dollar gas,” said Daniels.
Daniels said the conversation has changed a lot but the main question remains, “how do we spend less?”