Coburn tears up Washington’s credit card

Lawmakers are at an impasse on how to pass a continuing resolution (CR) to fund the government, which has been shut down for a week. They are also working against an Oct. 17 deadline for raising the nation's borrowing limit. 

Treasury and the White House have warned that if the limit is not lifted, the government could default on its debt, leading to a recession. 

Coburn said the nation’s debt — nearly $17 trillion — is a bigger risk to the U.S. economy.

“There is no debt limit in this country. Every time it’s come up we’ve increased it,” Coburn said. “The real risk is continuing to do nothing to address the underlying problems of our country [debt].”

The government will not be able to borrow any additional money after Oct. 17 unless lawmakers act. Democrats have asked for a “clean” debt limit increase, but House Republicans have threatened to attach language that repeals ObamaCare.

It's unclear where the fight will go from here as each side becomes more entrenched.