The reality of a real debt limit:
http://www.freerepublic.com/focus/news/3076090/posts?page=1
The Debt Ceiling is the Law of the Land
redstate.com ^ | 10/6/13 | Daniel Horowitz
Posted on Monday, October 07, 2013 6:07:28 PM by cotton1706
Over the past few weeks, Democrats have indicated that they have no intention of negotiating over Obamacare, opting instead to shut down the government. They are justifying their obstinacy by asserting that Obamacare is the law of the land. Well, if that is the game they want to play, we should return the favor with the debt ceiling. The debt ceiling, pursuant to the Second Liberty Bond Act of 1917, is the law of the land. And it has been so for far longer than Obamacare.
Throughout this debate over funding Obamacare in the budget bill, House GOP leaders have stressed how the debt ceiling was the more appropriate means of fighting Obamacare. After all, it was the next fight. But as if on cue, some Republicans are already using the same Democrat talking points about the risk of default.
We are going to hear this erroneous talking point propagated by both parties over the next few weeks, so lets put the myth to rest. The only way we default on the debt is if we fail to pay the interest on the public debt. According to the updated budget projection from the CBO, interest on the debt will be roughly $237 billion for 2014. Thanks to the short-term revenue benefits of the fiscal cliff and Obamacare tax hikes, the federal government is expected to rake in a record $3.042 trillion from the private economy this year.
Lets engage in a simple math exercise. $3.042 trillion $237 billion = $2.805 trillion. As long as the Treasury pays the first $237 billion in revenue to the shareholders of our debt, there will be no default, and we will have $2.805 trillion left to spend. Again, default is taken off the table. Discussion over.
What do you do with the remaining funds? You start funding core functions of government and those programs that people are already dependent on.
Social Security (retirement and disability) $848 billion
Medicare $505 billion
Medicaid $298 billion
Defense $582 billion
Veterans $83 billion
Those expenditures account for roughly $2.3 trillion. The remaining half trillion can be prioritized as needed for other functions related to homeland security, national parks, or any other limited function.
Hence, the debt ceiling is a built-in balanced budget mechanism. If Democrats want to fund other functions of government, they need to commit to a balanced budget. If they want to fund the HHS and the IRS, they need to get rid of Obamacare. If they want to fund the EPA, they need to get rid of the war on coal.
The power of the purse manifest in the House of Representatives, in conjunction with the debt ceiling law, reflects democracy at work, especially with divided government. Its time we stop peddling the myth of default, and start using our leverage to restore constitutional government and bring relief to those who are losing jobs and suffering from the high cost of living engendered by the harmful activities of the unconstitutional aspects of government.
That’s okay, I didn’t care enough to read past half of the first paragraph.
Purty certain the ski areas will not be closed. Lots of enviro wackos support them as they do king hussein. Of course they fly or drive to them and don’t think about the power used to keep them up and running. Unless your an ELF.
Look at the bright side, at least you could write. Rachel jeanteal couldn’t write nor read.
5.56mm
You ski Monarch??
Hey HG... look! It’s a blog pimp who posts the entirety of his article without linking. Whodathunkit, eh?
HAHAHA. Great article. I enjoyed reading it.
A note: I contracted for the federal government when the sequester hit. Every single government employee that was affected was looking forward to the time off. Except one. And that one was a very sad little lady that comes to work every day disheveled and with very greasy, unkempt hair. I feel kinda sorry for her, but she was the only one.
It was a non-issue and still is. So is the shutdown.
If ever there was an opportunity to see how a Marxist State operates, it is now.
One needs only to step out of the box and see AND say it, never be quelled by polical correctness or what others think, even here.
Finally, someone who says alot of the same I say! Yawn! (BTW, I LIVE NEAR all this!)
key point below from the article. don’t fall for the media lies. Republicans hold the line. no debt limit increase and keep the gov shut down:
“The sequester and the shutdown really amounted to nothing huge; I could easily live with both indefinitely. The next horror will be the debt ceiling, but I am having a hard time generating outrage and concern. If two much-hyped disasters turned out to be nothing, then the debt ceiling Armageddon is probably over-sold as well. Indeed the debt ceiling might be instructive as were the sequester and shutdown.
If only my benevolent federal government would give me permission to visit the outdoors.
PS http://www.wnd.com/2009/12/120497/