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Wednesday, Apr 23, 2014

The Horrible, Irresponsible, Catastrophic Default That Never Will Be

  • Scottie Nell Hughes is the news director and chief journalist for the Tea Party News Network as well as a contributor to Patriot.TV and PatriotUpdate.com.
October 15, 2013|7:20 pm

If you believe Bigfoot roams the Pacific Northwest, you might be gullible enough to believe Barack Obama's claim that the United States will default on its creditors if Congress doesn't raise the debt ceiling. But if you can see the President's propaganda for the scare tactic it is, you know there was never any chance the United States would default on its creditors.

The administration and the lame stream media have recklessly repeated the mantra that if the government can't continue to irresponsibly spend more than it takes in, this must end in "default," as if living within their means wasn't even an option. Well, here are some fast facts. The government is raking in, on average, $200 billion dollars per month. Interest on the national debt is around $30 billion per month. It doesn't take a rocket scientist to figure out that if a default happens, it is because Obama and his ilk want it as the final and ultimate protest.

The truth is the United States Treasury takes in enough revenue to pay its creditors such as Treasury holders, bond holders and foreign creditors, and the 14th Amendment clearly states that all creditors of the United States must be paid in full. This means that before the government pays for any program, department or subsidy, the creditor must be paid first.

It's true that other expenditures within the government would have to be cut, but what's so bad about that? Conservatives have been fighting for decades to cut spending. We shouldn't fear the spending cuts we've been proposing for years.

If Congress does not raise the debt ceiling, it would force Congress and the administration to balance a budget that hasn't been balanced since 1998, when Titanic was in theaters, the Spice Girls were popular, and reality television meant Jeopardy and Wheel of Fortune. However, Democrats will never let forced spending cuts happen because they derive their power by spending more and more money to increase the scope and power of the Federal Government.

We have witnessed what happens when Senators like Ted Cruz (R- Texas) and Mike Lee (R- Utah) stand up and say enough is enough. Wendy Davis was lionized for a pointless filibuster that ultimately accomplished nothing more than a couple-days delay of a law to protect unborn children, but Ted Cruz was beaten down and belittled for an attempt to save us from a health care law America doesn't want and can't afford.

Last week, Obama had a (rare) press conference. I wish just one reporter had thought to ask him, "Why is it that only government must grow every year, despite the fact that taxpayers who pay their salaries have seen our incomes decline over the past several years?" The overwhelming majority of American families have had to cut back in the past five years. It would be far from the apocalypse Obama predicts if the government had to do the same thing.

Scottie Nell Hughes is the news director and chief journalist for the Tea Party News Network as well as a contributor to Patriot.TV and PatriotUpdate.com.
Source URL : http://www.christianpost.com/news/the-horrible-irresponsible-catastrophic-default-that-never-will-be-106738/