GOP congressman: Failing to raise debt limit wouldn't be big deal

Republican Congressman Phil Gingrey of Georgia says he'll vote against raising the debt limit because nothing bad will happen if we don't:

The country doesn’t go off a cliff [if debt ceiling not raised] because revenues come in, tax revenue, and we just simply prioritize. We pay the interest on the debt first, we make sure that seniors get their Social Security checks, and we honor Medicare. But when we get to discretionary spending, whether that’s the Department of Education as an example, or the Department of Commerce, then, all the sudden, we reach in the hat and we decide who [unintelligible].

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