Must be noted
This manufactured debt ceiling crisis is nothing new. When a previous $4.9 trillion debt limit was reached in 1995, Congress refused to raise the debt ceiling and nothing happened. The sky did not fall and we did not default on our debt.
Void democrat fear card
It’s blackmail that they are using. The Obama Adminstration is essentially threatening to cause a default if they don’t get their way, even though plenty of money will be there to retire maturing T-bills. It is what I call ‘High Treason’.
Eventually the debt ceiling will be raised or there will be a political earthquake similar to Greece in response. (Congressional Republicans McConnel/Boehner have already admitted this publicly so it is not a secret.) House Republicans couldn't come up with $100B in cuts themselves, so eliminating a ~ $1.5 T of spending in one shot would cause one hell of political earthquake. The only question is what changes to spending or taxes will be included in the bill if any, that and who voters will blame if the checks are held back. Congressional Republicans have already put their surrender plan on the table, but don't have the votes for it probably.
House Republicans have yet to pass their own debt extension bill with cuts to throw out to Obama and dare him to veto it. It is likely that between those that will vote against an extension and those that will vote against budget cuts, Boehner cant get a bill like that passed through the house now.
In fact I heard the “freedom of light-bulb act” bill failed in a house vote yesterday.
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The ground truth.
Considering EVERYTHING this administration does is a crisis, and of course, they never let one go to waste.....and considering how the MSM ALWAYS over hypes and is so biased when reporting the news....this quote comes to mind:
“Believe none of what you hear and half of what you see.” Benjamin Franklin
We must not let our "rulers" complete their "transformative" intentions by ongoing manufactured "crises," each one ceding more power to the central government.
Instead, American citizens must recognize that, for "the People," the question is between freedom and slavery to government.
"It is proper to take alarm at the first experiment on our liberties. We hold this prudent jealousy to be the first duty of citizens and one of the noblest characteristics of the late Revolution. The freemen of America did not wait till usurped power had strengthened itself by exercise and entangled the wuestion in precedents. They saw all the consequences in the principle [usurpation of power], and they avoided the consequences by denying the principle. We revere this lesson too much . . . to forget it." - James Madison
". . . we must not let our rulers load us with perpetual debt. We must make our election between economy and liberty, or profusion and servitude. - Thomas Jefferson
". . . nip the shoots of arbitrary power in the bud, is the only maxim which can ever preserve the liberties of any people. When the people give way, their deceivers, betrayers, and destroyers presss upon them so fast, that there is no resisting afterwards. The nature of the encroachment upon the American constitution is such, as to grow every day more and more encroaching. Like a cancer, it eats faster and faster every hour. The reveue creates pensioners, and the pensioners urge for more revenue. The people grow less steady spirited, and virtuous, the seekers more numerous and more corrupt, and every day increases the circles of their dependents and expectants, until virtue, integrity, public spirit, simplicity, and frugality, become the objects of ridicule and scorn, and vanity, luxury, foppery, selfishness, meanness, and downright venality swallow up the whole society." - John Adams
It has been my belief from the beginning of B. Hussein’s term that he was intentionally spending us into just such a “crisis”. In other words, run up the debt to astronomical levels, then come whining to us that he needs more taxes to pay it off.