Posted on 10/07/2013 1:24:34 PM PDT by whitedog57
It is fascinating to watch the game of chicken being played in Washington D.C. Both sides on the budget war have drawn lines in the sand. President Obama and Senate Majority Leader Reid refuse to negotiate and have shut down the Federal government (sort of). House Republicans demand that Obamacare carveouts to political friends, Congress, etc. be ended or everyone be given a waiver from Obamacare.
Regardless of which side of the fence you line up on, here are the facts.
In 2014, $2.16 trillion of Federal government debt matures or rolls over. Now, THAT is a big Twinkie!
usdebtdist
But before 2014, we have $441 Billion of Federal Debt maturing between now and November 15th.
Debt Maturities Oct-Nov_0
Is there a problem? Not really. In September, Treasury paid out $19.8 billion in interest payments on the debt. In August, the Federal government took in $185 billion. So, there is plenty of tax revenue to pay the interest due.
So, while Obama, Reid and Boehner play the chicken dance, Treasury markets remain calm.
treasyclamvix
While the VIX rose to 19.25, it is well below past disturbances.
vixlt
So, why are Obama & Reid playing chicken with Boehner if we can easily pay the interest due?
Regardless of which side of the fence you line up on, here are the facts.
In 2014, $2.16 trillion of Federal government debt matures or rolls over. Now, THAT is a big Twinkie!
But before 2014, we have $441 Billion of Federal Debt maturing between now and November 15th.
Is there a problem? Not really. In September, Treasury paid out $19.8 billion in interest payments on the debt. In August, the Federal government took in $185 billion. So, there is plenty of tax revenue to pay the interest due.
So, while Obama, Reid and Boehner play the chicken dance, Treasury markets remain calm.
While the VIX rose to 19.25, it is well below past “disturbances.”
So, why are Obama & Reid playing chicken with Boehner if we can easily pay the interest due?
MUST READ: DEBT CEILING A DEMOCRAT RUSE
The debt ceiling propaganda is a radical ruse by obozo and his minions to try to force the Pubbies into a cave in on obozocare and push America that much further into the Marxist hellhole obozo promised his ignorant supporters in 2008!
Raising the debt ceiling WITHOUT reigning in SPENDING and telling those non-essential bureaucrats to get REAL jobs (if they can find them) is a recipe for the further destruction of what remains of America.
If he takes us into default, it will be because HE made the decision to do so.
FACT: We are nowhere near that even with a complete budget stall. The US takes in nearly $250 BILLION in tax revenues each month. This is more than 10 times what is needed to service the interest on the debt ($220BILLION/year).
What this shutdown does, however, is force Obama into a position where he would have to prioritize the spending for what is left. It would NOT be the total chaos being pushed by the Dems and their lapdog media.
If you want your country back, ignore these phony scare tactics.
PLEASE SHARE THIS WITH EVERYONE YOU KNOW. Dont bother with the obozombies. They wouldnt recognize a fact if it bit them on the ass.
the amount of debt coming due is not relevant, because as long as the treasury remains with the authorized federal debt limit and in need of that amount coming due, the treasury just issues new debt in the same amount
the only reason for a raise in the national debt limit is not the amount of any debt coming due
but ONLY IF SPENDING VS REVENUE is creating more deficits of an amount which would require more total debt;
and paying the national debt obligations - the only payments the Constitution considers mandatory - does not require either raising the national debt limit;
it only requires the federal government to pay the debt obligations first (interest payments) first and THEN not spend above the deficit levels that can be contained in the present national debt limit;
it is those spending limits, not “default” that Obama is trying to avoid;
this is the fifth year of his annual 11th hour manufactured crisis to obtain a raise in the national debt limit so as to simply fund his present extravagences and then have Congress go back to sleep and never actually pass all the budget and allocation bills; this has been his manufactured crisis way of avoiding any substantive compromise with the House GOP
are you listening Boehner; are you goint to give Obama a 5th, 6th, 7th and 8th years of simply running on the Pelosi 2009 budget and its automatic increases???
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