Senate Minority Leader Mitch McConnell (R-Ky.) warned Wednesday that a default on the nation’s debt would not only be dangerous for the country, but could also have damaging political repercussions for the Republican Party. "This is a misnomer that the president and the Treasury secretary have been trying to pass off on the American people," Michele Bachmann "As far as what might happen in the global financial markets, no one knows," I've yet to find anybody who can lay that all out for me in a convincing fashion."Steve King King called McConnell's proposal "the fox in the hen house."