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Economists like Nobel prize-winner Paul Krugman have warned that Republicans could "blow up the world economy" if they refuse to raise the nation's debt ceiling but Sen. Tom Coburn (R-OK) disagrees, saying that it could actually be a "wonderful experiment."

During a Tuesday interview with conservative talk show host Sandy Rios, Coburn insisted that only "stupid things" would be shut down if the the debt ceiling was not raised.

"We’re going to collect $200 billion a month if in fact the government were to not extend the debt limit," he insisted. "Social Security would be paid, Medicare would be paid, the essentials would be paid; it’s the non-essentials that wouldn’t be paid, it’s the $250-300 billion a year in stupid things we do that we wouldn’t pay, it’s the programs that aren’t an absolute necessity that wouldn’t get funded, the things that would be a necessity would get funded."

Coburn continued: "It might be a wonderful experiment, regardless who wins the next election or not, just to see if we could live on the money that’s coming into the Treasury and not have to borrow against the future of our children."

Rios said she worried that Republicans would be giving President Barack Obama the power to decide if Social Security and military checks would be delayed if Congress decided to breach the debt limit.

"He can decide it but the point is, look, we’re coming to a point in our country where the cost of our profligate spending in the past is going to be so great and so manipulated that our freedoms are going to be put at risk," the Oklahoma Republican opined. "I’m not sure we should continue down that road. That doesn’t mean federal employees aren’t good employees and it doesn’t mean they don’t do a good job but we have set it up where we’ve undermined self-reliance, we’ve undermined efficiency, we’ve undermined expectations in this country as far as those who work for the federal government and then we’ve overpromised."

"Maybe we lose that battle, but if we lose that battle, we’re going to lose our country anyway. And that’s what people ought to be thinking about."

A study by the Bipartisan Policy Center found that a breach of the debt ceiling would mean that the government could continue to fund interest on the debt, Social Security, Medicare and food stamps at the expense of every other federal program.

“[B]ut doing all that will mean defaulting on everything — really, everything — else,” The Washington Post‘s Ezra Klein explained last week. “The FBI will shut down. The people responsible for tracking down loose nukes will lose their jobs. The prisons won’t operate. The biomedical researchers won’t be funded. The court system will close its doors. The tax refunds won’t go out. The Federal Aviation Administration will go offline. The parks will close. Food safety inspections will cease.”

(h/t: Right Wing Watch)

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Rep. Marsha Blackburn (R-TN) on Monday said that she would be willing force a "thoughtful" shutdown of parts of the United States government if President Barack Obama did not agree to deep spending cuts.

"What we want to make certain is that this president, this administration, this bureaucracy realizes that kicking the can must stop," she told MSNBC's Chris Jansing. "It is spending cuts and it is imperative that we reduce the size of the federal government, that we get in on a mega-diet, that we end this out-of-control spending."

"There is the option of government shutdown," the Tennessee Republican continued. "There is an option of raising the debt ceiling in short-term increments... There's also the plan of three dollars in cuts for every one dollar of debt limit increase. So, the healthy thing is this, we are having a good discussion on it."

Jansing pointed to a study by the Bipartisan Policy Center which found that the government could continue to fund interest on the debt, Social Security, Medicare, food stamps during a shutdown -- but it would mean that almost every other federal program would grind to a halt.

"[B]ut doing all that will mean defaulting on everything — really, everything — else," The Washington Post's Ezra Klein wrote last week. "The FBI will shut down. The people responsible for tracking down loose nukes will lose their jobs. The prisons won’t operate. The biomedical researchers won’t be funded. The court system will close its doors. The tax refunds won’t go out. The Federal Aviation Administration will go offline. The parks will close. Food safety inspections will cease."

"I think that there is a way to avoid default," Blackburn insisted. "If it requires shutting down certain portions of the government, let's look at that. Let's put these option on the table, be very thoughtful, but get this spending pattern broken. We cannot afford a $4 billion a day deficit and trillion dollar plus deficits every single year."

"So, it requires thoughtfulness and it requires that we are going to have a plan to work through this. I think that's where we as Republicans are headed."