News flash America: If the government defaults on our debt obligations, it will be a conscious choice. The time is now to end Washington’s elite spending spree that fuels lobby groups and their corporate customers’ addiction to taxpayer cash. Raising the debt ceiling is not necessary, it is a choice.
In case you did not know, the government confiscates $2.8 trillion dollars per year in tax revenue from America. The monthly principle or interest owed on our $16.7 trillion dollar national debt is $21.6 billion dollars or $260 billion dollars for the year. Given government annual revenue is over ten times the amount of our national debt interest obligations, why is it necessary to raise the debt ceiling to service the national debt and maintain the full faith and credit of the United States?
Washington, Democrats and Republicans are selling Americans a line of crap.
I would think that $2.8 Trillion dollars in revenue properly prioritized would have already paid our annual debt interest or at least our Treasury Department, under President Obama’s direction, would have put back enough revenue to make the monthly debt interest payments through the end of the year. That would surely guarantee the faith and credit of the United States.
This is what comes from not passing a budget for five straight years. Government has been caught with their hand in the cookie jar again, and they want Americans to believe that a global catastrophe is about to take place, if, we do not raise the debt ceiling and borrow more money to make the interest payments on the national debt. Hogwash.
The US Treasury Secretary, Jack Lew, testified before Congress, after Oct. 17, the government would have $30 billion dollars to pay its bills. Given the government is shutdown—operating on essential employees only—is not $30 billion dollars enough to pay $21.6 billion dollars in interest to avoid a debt default?
The US Treasury has a responsibility, a fiduciary responsibility, to prioritize the bills they pay. For almost five years, the most irresponsible President in U.S. history has encouraged an out of control Treasury Department. If the Treasury does not have enough money stashed to pay the interest on the debt, this is Presidents Obama’s fault. Raising the debt ceiling to accommodate poor Executive Branch planning is not an answer to America’s debt crisis, it is an accommodation to Presidential incompetence.
If the government requires money to pay additional bills (i.e. Veterans and Veterans survivor benefits), they should find it within their federal family, not the back pockets of American taxpayers. Until our fiscal house in in order, Congress should pass legislation defunding non-essential government services, avoid raising the debt ceiling and avert a manufactured default. This is the real choice for our government.
Instead of arguing over retroactive back pay for furloughed workers, government should lay off many of these non-essential workers and reduce the size of government. Surely finding $21.6 billion dollars in spending reductions to cover our monthly debt interest obligations cannot be that difficult. Moreover, this was a promise made by Obama during both of his Presidential campaigns.
A government shutdown should not penalize the people, who, under threat of financial penalty and imprisonment, have surrendered more than enough money for a properly managed federal government to pay the nation’s debt obligations.
Section 4 of the 14th Amendment to the US Constitution requires government to pay the interest on the debt. The federal government has enough money flowing through the doors every day to service or pay our debt obligations. Raising the debt ceiling only avoids the authentic issues in Washington, gross mismanagement and irresponsible spending.
I have always said that the government does not make money, they confiscate it. The federal government continues to break its promises to rein in spending and get their fiscal house in order. Government cannot be trusted anymore.
Every day we force the government to function in shutdown mode is a blessing to the country. Every day that government has to take responsibility for running the country with what they take in, not what they borrow means we the people are making progress.
If Republicans cave to the White House and Harry Reid’s propaganda pressures, our government will continue to grow, debt-ceiling increases substituted for sound budgeting/fiscal management will become policy, and liberty, and freedom, will pay the price.Don't forget to Like Freedom Outpost on Facebook and Twitter, and follow our friends at RepublicanLegion.com.