Did anyone catch BO on the news this morning.....?

I saw a clip of BO stating he "couldn't guarantee" social security & other benefit checks would be sent out in August unless the debt ceiling was raised. What do you think about that little bit of drama?

 

Could be he is simply stating the truth David?

 

No. We have plenty of money coming into the treasury everyday, that cash flow has not been impeded. The debt ceiling debate concerns BO's ability to continue borrowing.

 

That is political speak for I want to blame the Republicans. I just hope the American public has enough sense to realize that.

BTW, the spending that he needs to stop are such things as the prepay for obamacare, ethanol subsidies, green energy subsidies, his "shovel ready" from 2 years ago that are not ready yet, numerous grants, etc. After that, there is enough monies coming in to continue nearly all normal government operations.

 

Revenues are right around 2 trillion.

Defense, social security, Medicare and medicaid are right around 2 trillion.

Do the math...some benefits might not be paid. I bet SS will but only for political reasons. Old people vote. But I fully expect my military pension will be delayed.

 

You might find this article of interest

Congress hears outcry from business lobby on debt ceiling and deficit - The Washington Post

 

Truthfully, I don't think either party is stupid enough to really pull the trigger on a default. On the other hand, it is dangerous to underestimate the stupidity of any politician.

 

Why?

 

Try reading it and it's meaning might filter through

 

Instead of a compromise that will increase our taxes needlessly maybe it's time the Repubs just let BO raise the debt ceiling? Maybe then he will be able to offer his vision on the economy...by the way, does anyone know what that is? Let him borrow, borrow, borrow....spend, spend, spend and we'll see what happens. We'll let BO and the Dims set the course & they will absolutely own the consequences. Let's give BO what he wants but make him tell us precisely what that is.

 

Yet it seems the buisness community and a number of Republicans actualy agree that the ceiling needs to rise? over here we have a similar situation but are taking drastic measures to cut our deficit and spending many are quite unpopular but I do believe we have to do something