Rand Paul: Irresponsible for President to Talk About Default, No Reason for US to Default

Money's there even absent new borrowing

Sen. Rand Paul (R-Ky.) said Sunday that it's "irresponsible" for President Obama and his allies to be talking about the prospect of defaulting if the debt ceiling isn't raised by a key deadline later this month.

"I think it's irresponsible of the president and his men to even talk about default. There's no reason for us to default. We bring in $250 billion in taxes every month. Our interest payment is $20 billion. Tell me why we would ever default," Paul said on NBC's "Meet The Press." "We have legislation called the Full Faith and Credit Act, and it tells the president you must pay the interest on the debt. So this is a game."