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Editorial - New York Times
A Denial of Reality
Published: July 26, 2011

How can so many Republican lawmakers justify pushing their country toward catastrophic default just to score ideological points? The answer can be found in their statements and writings: They are constructing an alternative reality far different from that of most Americans.

The Treasury Department, which keeps the government bankbook, set the Aug. 2 deadline, but they say it cannot be trusted because it is an arm of the Obama administration. Representative Joe Walsh, a freshman from Illinois, recorded an instantly notorious video in which he accused President Obama of "lying" about the dangers of default. "There's plenty of money to pay off our debt and cover all of our Social Security obligations," he said, without saying where all these billions might be hidden.

Representative Michele Bachmann, the Tea Partier running for president, went even further, saying there would be no default at all because the government would always find a way to pay the interest on its debt. Her level of disbelief in any statement made by the White House is so complete that she disregarded the possibility that the global financial system could impose its own devastating downgrade on the government's obligations.

Mrs. Bachmann's denial of economic reality puts her at the far-right end of the House, alongside eight other Republicans who voted against the "Cut, Cap and Balance Act" last week because it was too liberal.....

Complete article:
http://www.nytimes.com/2011/07/27/opinion/27wed2.html?src=rechp