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To: Rick_Michael

Reaching the debt ceiling is not a “default”, default means not being able to pay the interest on the debt.

Without the debt ceiling the US government will still collect around $200 Billion this month in revenue, the interest on the debt is around $20B or something. Social Security checks is about $50Billion.

They need to trim the size of the federal government, abolish everything that is unnecessary and unconstitutional like the Dept of Education. The fedgov needs to live within its means.


97 posted on 07/27/2011 2:30:32 PM PDT by GeronL (The Right to Life came before the Right to Happiness)
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To: GeronL

Will that 200 billion suffice with all the general expenses? I’m trying to figure at what point are we floating around a danger zone....?


100 posted on 07/27/2011 2:48:04 PM PDT by Rick_Michael (Obama Debt-Laden)
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