Administration Promises Default If Debt Ceiling Isn’t Raised

Semi-News/Semi-Satire ^ | 11 Oct 2013 | John Semmens

[John Semmens]

Treasury Secretary Jack Lew slammed Republican arguments that failure to raise the debt ceiling doesn’t guarantee default as based on “faulty logic.” This is despite the fact that Moody’s, the internationally respected financial rating service, supports the GOP case.

“They say that maxing out our borrowing just means that we will have to cut spending somewhere, that we could continue to service our debt while we make cuts elsewhere,” Lew recounted. “What they are forgetting is that the decision on whether to default or cut other spending is in our hands, not theirs.”

Calling the failure to raise the debt ceiling “a kind of poor man’s balanced budget amendment,” Lew vowed that “the President will not be pressured into cutting back even non-essential functions by this kind of blackmail. We’ve got the full faith and credit of the entire US Government in our sights. If the GOP won’t give the President what he wants we will pull the trigger. Everyone will understand that they made us do it.”

if you missed any of this week's other semi-news/semi-satire posts you can find them at...

http://azconservative.org/2013/10/12/journalisturges-wall-street-to-aid-president/

[bmwcyle]

Obama tells the truth?

[elkfersupper]

That is something even beyond the power of a narcissist wannabe dictator like Obama.

Tax receipts are overwhelmingly sufficient to pay debt service.

Unless Obama thinks he can treat U.S. bondholders the same way he treated those of GM.

Boehner would be POTUS within 3 days if that happened, which is another problem, but slightly better than the one we have now.

[boxlunch]

These satire posts are not funny and getting old. Please just stop.

[Jonty30]

They are going to order the CBO to specifically not pay out for the bonds?

[Dracomeister]

Did I hear him say they wouldn’t cut back on NON-ESSENTIAL programs?

[Kaslin]

Lew threatened yesterday that the troops are not going to get paid.

I call that criminal extortion

[silverleaf]

“They say that maxing out our borrowing just means that we will have to cut spending somewhere, that we could continue to service our debt while we make cuts elsewhere,” Lew recounted. “What they are forgetting is that the decision on whether to default or cut other spending is in our hands, not theirs.”

well, take that and chew on it, Congress

to Obama and his true believer legion, you are as useless as tits on a trout

federal statutes concerning repayment of the debt are meaningless

Lew and barry will have the money ass $2 Trillion in federal tax collections continue to roll in, “they” will just choose not to use it (about 10% of it) to pay our debt

[oldbrowser]

“What they are forgetting is that the decision on whether to default or cut other spending is in our hands, not theirs.”

That should be in every commercial during the next election.

They are taking credit for the default.
And they are admitting that it wasn't necessary.

[tsowellfan]

These satire posts are not funny and getting old.

Thank you! I actually thought it was a real story until I scrolled down to your comment.

[Jack Hammer]

Given that everything the Obama Administration touches turns to sh*t, it’s just as well.

God forbid, the American people be allowed to keep a little bit of what’s theirs.

[Uncle Chip]

Well we wouldn’t want them to default on their promise to default, would we???

[Mike Darancette]

Treasury Secretary Jack Lew slammed Republican arguments that failure to raise the debt ceiling doesn’t guarantee default as based on “faulty logic.”

Republicans underestimate the incompetence of this regime, they won't be able to avoid default

[trebb]

And that’s the satirical truth of the matter. Tx John