Ronald Reagan hailed by liberals in debt fight

The Huffington Post:

Washington - Democrats have a new icon these days: Ronald Reagan.

That's because, unlike many Republicans in the House, the fiscally conservative late president believed it was essential for the United States to make good on its all obligations and raise the debt ceiling.

And Democrats across the spectrum on Wednesday have been holding the conservative hero up to Republicans as an example they should follow.

"I find myself these days quoting Ronald Reagan," said Sen. Barbara Boxer (D-Calif.) at a news conference Wednesday. "'The full consequences of a default,' he said, 'or even the serious prospect of a default by the United States are impossible to predict and awesome to contemplate. Denigration of the full faith and credit of the United States would have substantial effects on the domestic financial markets and the value of the dollar in exchange markets. The nation can ill afford to allow such a result.'

"That's Ronald Reagan," Boxer emphasized, suggesting that Republicans recall that model. "All they have to do is look at their icon, Ronald Reagan, and understand you don't play with fire when it comes to the full faith and credit of the United States of America."

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