12/01/2012

Obama administration: "'Deeply Irresponsible' To Demand Spending Cuts To Match Debt Limit Increase"

The Obama administration keeps making the false claim that hitting the debt limit will cause default.  Of course, it is a nutty claim.  Default only occurs when you can't pay the monthly interest bill and that won't occur as long as revenue covers that.
Jay Carney: Asking that a political price be paid in order for Congress to do its job to ensure that the United States of America pays its bills and does not default for the first time in its history is deeply irresponsible. It was deeply irresponsible in the summer of 2011 and it would be deeply irresponsible if we were to see that kind of approach taken again. The President absolutely expects Congress to do its job, and one of the jobs that Congress has is to make sure the United States government pays its bills as the greatest economy and the greatest country on earth -- we pay our bills. . . .

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