Mr. Obama Will Go to Default Unless He Gets Everything He Wants



Barack Obama

Mr. Obama gave a press conference today and his focus was on assassinating the character of Republicans, blaming them 100% for what he says will be a catastrophic default.

He said he will sign a short-term agreement to raise the debt ceiling and open the government for a few weeks. It is not likely he is serious because he spent the remainder of the speech beating up on Republicans and demanding they give in to his demands.

He said he would discuss anything – not necessarily do anything – but discuss anything if the Republicans give him everything he wants first. Mr. Obama will allow a default, he claims, if he does not get everything he wants.

Saying we will default is patently untrue. To default, the country has to stop paying the interest on our debt. We take in $220 billion a month and the interest on our debt is $24 billion. We can easily pay the interest on our debt and we must pay the interest on debt first according to the Constitution. Default is off the table but Mr. Obama insists on saying it is.

Mr. Obama said that he will not put the ‘full faith and credit’ of the United States on the line while at the same time saying he would default.

Not raising the debt ceiling would mean bills to be paid have to be prioritized. Mr. Obama will make it hurt as much as possible. We have gotten a taste of that since October 1st and we heard the ominous warnings from him today.

He said Republicans do not want to pay the bills they racked up. In fact, Mr. Obama racked up the bills, forced Congress to approve them, and is now blaming them for his spending problem.

He upbraided Republicans throughout the speech, calling them hostage takers who are attempting to make him pay ransom. He said they can’t get to burn the House down and called them radicals and extremists. He can’t allow extortion to become a way of doing business, he railed. He portrayed negotiations as extortion.

Negotiations have always been a part of Executive-Congressional dealings until Obama. He does not respect the Separation of Powers.

Mr. Obama claimed that Jack Lew does not have any way to pay our bills and raising the debt ceiling does not raise the debt.

Of course raising the debt ceiling means the president will have free rein to raise the debt and he is being less than truthful on this issue.

This is what he said about the debt ceiling:

“Now, this debt ceiling — I just want to remind people in case you haven’t been keeping up — raising the debt ceiling, which has been done over a hundred times, does not increase our debt; it does not somehow promote profligacy.  All it does is it says you got to pay the bills that you’ve already racked up, Congress.  It’s a basic function of making sure that the full faith and credit of the United States is preserved.”

Obama said that “the average person” mistakenly thinks that raising the debt ceiling means the U.S. is racking up more debt:

“It’s always a tough vote because the average person thinks raising the debt ceiling must mean that we’re running up our debt, so people don’t like to vote on it, and, typically, there’s some gamesmanship in terms of making the President’s party shoulder the burdenof raising the — taking the vote.”

All he has done has been profligate. All he does is spend irresponsibly, appearing to be unconcerned about raising our debt to unsustainable levels.

Mr. Obama demanded that the House put a ‘clean’ bill up for a vote. Heartless Harry, for his part, will put a ‘clean’ bill before the Senate and have them vote on it.

Speaker Boehner wants to bring people together and have a conversation but Mr. Obama and his puppet in the Senate, Harry Reid, will not allow that.