Compromising Debt-Ceiling Facts

Big Lie Number Two was the 2nd of a Tea Party Patriots 4-part series of debt-ceiling-related statements. It shows, before President Obama made such a claim, the fallacy of statements about the US defaulting on debts if Congress doesn't raise the ceiling.

Fact: not raising the debt-ceiling will NOT cause the US to default on its promises. The IRS collects 10 times the amount it owes to service its debt - specifically US Treasury bonds - every month.

Refusal to do so (paying off cashed-in bonds) would in fact cause a financial crisis the globe has yet to see. But insisting to twist facts for political gain, Mr. President and those who blindly re-chirp your claims, is irresponsible at best.

Refusing the raise the debt-ceiling is like a parent informing their child the credit card they've been privileged to use is being capped to a limit or in this case, being revoked. It does NOT mean they will no longer be able to pay the mortgage.

The President decides which bills get paid and when revenue streams are anemic, something has to give. Defaulting on promises to pay certain bills (bonds) have a different impact than paying others - like, I dunno, let's say Obamacare. 

So yes, if the President stopped paying our debt, we'd be in a heap of trouble. But that would be his choice, not Republicans.  And if Obama chose not to pay Social Security, or Medicare/Medicaid, or any other entitlement program, that would also be his choice, not the Tea Party.

We are in this financial crisis because Democrats DID NOT pass a budget in 2010 (they knew the political impact) and yet they still promised, with the Nation's credit card (stimulus, et al) the adults are taking away, much more than they could afford.

The adults in the room realize government has over-promised goodies for their political special interests. Meanwhile, the children are jumping up and down, whining about a lack of "compromise" from the Tea-Party-led-by-their-nose-hairs-GOP and their false claims of defaulting on our debt are a clear indication of their desperation.

Oooooo, sorry, wrong answer. The kids will not get what they want. There is no more room for compromise.