Reporters reveal Republicans don’t understand what a debt default means

CNN's Jim Acosta and John Avlon compared notes on Republicans speaking on raising the debt ceiling over the weekend only to realize that the far-right members refuse to support the deal between Speaker Kevin McCarthy and President Joe Biden.

Acosta cited an interview he conducted Saturday with Rep. Tim Burchett (R-TN), who said he's voted for shutdowns and would vote again this week.

After ranting about cutting spending, Acosta said, "Well, you can have the argument about cutting spending during the budget and appropriations process, but as you know, Congressman, the U.S. has never missed making payments on its bills before. In the last 45 years, Congress has raised the debt ceiling 65 times. So, again, I go back to the question: is it responsible — I understand what you're saying about how much your daughter spends, but we're not talking about $15. We're talking about the American economy. Is it responsible to be the deciding vote to send the country into default?"

Burchett claimed that the country wasn't going to be sent into default. He crafted a conspiracy that Treasury Secretary Janet Yellen kept changing the date the U.S. default would happen.

"Nobody is, as the young people say, nobody has provided the receipts. Nobody has called her into Washington and said, 'Show us the math on this,'" he said.

Treasury Secretary Yellen works at the Treasury Department, which is in Washington.

Burchett also had his own math, saying that if they cut the budget spending to the 2022 levels, the country would be in a surplus. The House passed a massive defense spending package that would have required cuts from other places.

"All they're doin' right now is scarin' people," Burchett claimed. "They're talkin' about cutting programs that have no need other than political cronyism, we're tellin' our seniors — and the Democrats will, and I get it — they're tellin' the seniors they're gonna be cut. Veterans are gonna be cut. And nothing can be farther (sic) from the truth. And that's just the reality of politics."

The reason Democrats were citing cuts to seniors and veterans goes back to the Republican Party budget bill that required cuts to seniors and veterans. That's because returning to the 2022 budget levels means making cuts to increases already passed by Congress.

Acosta turned back to Rep. Burchett to ask if he believed the debt ceiling wasn't real.

"I think the debt ceiling is — it's just a creative thing to hold us into responsible — into check," said Burchett.

Avlon cited Rep. Ralph Norman (R-SC), who claimed he refused to sign a bill that would bankrupt the economy.

"Well, hold it right there," said Avlon. "I mean, if you let the country default on its debt, that's functionally the same thing."

An annoyed Avlon was frustrated the process was even something allowed to happen.

"It's a fact, Congress has to control the pursestrings. So, frankly, someone should figure out the 14th Amendment side of this because I think this is not the way we're supposed to play ball, the greatest nation in the world constantly every couple of years when there's a Democratic president flirting with defaulting on our debt because it's fiscal policy by extortion," said Avlon. "This is a win to the extent that we came up to a bipartisan agreement, but this is not the way the greatest nation in the world should conduct its fiscal policy. It's ridiculous. And it didn't happen when Donald Trump was president because Democrats worked with Republicans to ensure the debt ceiling was raised three times."

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