USA Debt Ceiling Crisis; More Media Lies
As usual the Main Stream Media (NBC, MSNBC, CNN, ABC, NY Times, etc.) along with Obama, Sen. Harry Reid, and many RINO Republicans are simply LYING about the so called Debt Ceiling Crisis.
See also Gregg Walden; RINO Republican
This is not complicated economics and does not take much to figure out, yet sadly many otherwise good intentioned Americans have taken the bait.
(1) First, look at this way;
If you as a private citizen lives beyond your means, but keep asking for Credit line increases from the bank and one day they finally (& rightfully) say no; does life come to a grinding halt? Most certainly not, you simply will be forced to live within your means.
This debt ceiling in the most simple terms is just this.
(2) Tax Revenue will continue to pour into US Treasury coiffeurs from many sources, such as Gasoline Taxes, Tariffs, Quarterly estimated taxes, etc. etc. etc.
Regardless of whether the debt ceiling is raised or not, plenty of revenue will continue to come in. The difference will be we will have to live within our means and stop borrowing so much to fund Obamas legacy.
(3) We will NOT default on loan payments, as the incoming revenue will be vastly more than enough to pay this and entitlements such as Social Security.
Yes Mom, Dad, Grandma, Grandpa; Your Social Security checks or Disability will continue to come unless Obama chooses to make some kind of evil point by witholding payments.
In other words the Media and Democrats are simply lying, this is simple economics.
(4) Interest Rates will not rise; While I cannot categorically say they will not rise, this is highly unlikely, especially when one considers that there is a finite amount of money and when demands for loans increases, often so do interest rate.
So when the United States stop competing for this finite supply of money/funds, it goes to figure it is more than likely to go down (again simple economics).
Just as importantly, the so called cuts proposed by Harry Reid are not nearly enough according to Moody's, Standard & Poor's (which ranks bonds, AAA, AA, and so on). So raising the debt ceiling and Not making enough cuts are more likely to raise interest rates.
Again this is simply another Media and Democrat Lie.
The Stock Market dropping after the passage of a poor so-called compromise bill adds to this point (which was mostly the Republicans once again giving into our presidents socialist agenda)
(5) The Republicans will not compromise; Obama has not put forth a single plan, and Harry Reid in the US Senate has only put forth one plan and then only just a few days ago.
It is the Republican controlled House of Representatives that has put forth multiple plans only to be shot down by the President and Senate and labeled as "not willing to compromise".
Sorry, again this is not rocket science who is not compromising.
(6) The Republicans do not want to take away your disability or Social Security check.
However I will admit the system is broken and out of date and something must be done
Using a business as an example; Blockbuster Video did not adapt with the times, keeping an outdated business plan that did not grow/expand with changes in how persons view videos, etc. and thus went bankrupt.
Similar the Social Security Program was started in the 1930s and has not changed all that much since then.
Bluntly as someone in my 50s closing in on the retirement age of 65, i would be willing to push it back to 67, 68, 69 or any age to make more solvent (obviously more needs to be done than just this)
(7)Baseline Budgeting is a FRAUD! The Democrats (& RINO Republicans) love to use Baseline Budgeting to call what is not really a cut, a cut. This is then used to make them look like budget cutters when it can be good for their image or call a non cut a cut when it can be used against a Republican to make them look bad (such as taking money from Granny).
Simply put, here is an explanation I heard that explains Baseline Budgeting well:
If you budget $50,000 for new car, then go shopping and find a $70,000 car on sale for $60,000 and then you decide to purchase this car. You tell yourself you saved $10,000, when in reality you spent $10,000 more. THIS IS BASELINE BUDGETING!
The Media can not help themselves with their lies!!
As I predicted the need to cap the debt ceiling was/is essential and since this was not done the USA had its bond rating lowered and and the stock market also reacted.
Yet Kool Aid drinking fools such as George Stephanopoulos cannot believe themselves so they continue with their lies and now imply that the Tea Party was/is at fault.
Sorry George and others who believe this lie, the Tea Party demanded a cap as Standard and Poors did.
The liberal lies continue as they destroy our country all while the worst president in the history of the USA is at the helm and the blame lies at his feet along with his liberal allies.
As a business owner that has struggled much many for reasons that are certainly not the governments fault, but with taxes (many hidden in cost of inventory, gasoline taxes, gross revenue taxes and more), I have seen my taxes increase considerable for the 2010 and estimated 2011 tax seasons and this simply has got to stop.
I have to live within my means and the disgusting government run by scum like Obama have NO right to take even more money just because they CANNOT live within their means.
My business reference: http://www.americanaquariumproducts.com/
Please see this excellent video of a speech by Sen. Marco Rubio of Florida that of coarse received little coverage by our dishonest media: