Newt Gingrich: House Republicans ‘will cave’ on debt ceiling

In a rather interesting interview on MSNBC’s “Morning Joe,” Former House Speaker Newt Gingrich warned House Republicans that arguing over the upcoming debt ceiling is a political “dead loser” for them.

Speaker Gingrich negotiated through two government shutdowns, one for 21 long days, during his tenure in congress. He said the following on Friday:

They’ve got to find, in the House, a totally new strategy. For example, everybody’s now talking about okay now comes the debt ceiling. I think that’s, frankly, now a dead loser because in the end, you know what’s going to happen. The whole national financial system is going to come into Washington, by television, and say, ‘Oh my God, this would be a gigantic heart attack. The entire economy of the world will collapse. You guys can’t be responsible.’ And they’ll cave.

Shortly after passing the fiscal cliff deal, the President spoke about the inevitable debate over the debt ceiling. “While I will negotiate over many things, I will not have another debate with this Congress over whether or not they should pay the bills that they’ve already racked up through the laws that they’ve passed,” said Obama.

However, many House Republicans have said they plan to use the debt ceiling debate to now fight for spending cuts that were not a part of the fiscal cliff deal just negotiated by congress. And, they say, they plan to stand firm on getting seriously needed spending cuts even if it means forcing a government shutdown.

Watch the clip here:


Watch Gingrich’s entire 22 minute interview on “Morning Joe:”

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