Perry Says Default Fears Are Overblown

HOUSTON — Gov. Rick Perry said he isn’t worried that a failure to increase the nation’s borrowing authority would trigger the kind of economic catastrophe that federal officials, ratings agencies and many economists have warned would occur if the debt ceiling isn't raised. 

“There’s still gonna be revenues flowing in, so I think this threat that somehow or another the world is going to come to an end and the threat of  'We’re not going to be able to pay our bills' is a bit of a stretch,” Perry told reporters in Houston. “Most Americans know ...

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