When it comes to the debt ceiling debate Barack Obama leads the same way that he has all along utilizing lies, deceptions, deflections and half-truths meant to scare the American Sheeple!
Note: The greatest risk to the AAA rating of the United States is not the Congressional Republicans or a failure to raise the debt ceiling in a timely manner, but in fact President Obama and the Democrats who refuse to put spending reform on the table.
It is the failure to address the spending side of the federal budget that will ultimately be the root cause of any downgrade despite the fact that the President is attempting to get out in front and deflect the blame somewhere else. In Barack Obama's world this is the what passes as leadership!
And as is always the case when the President misleads or worse yet lies, the mainstream media swears to it and the American people buy it because they are either too ignorant or too lazy to know any better.
The President has been using his bully pulpit to claim that if the debt ceiling is not raised it will be the fault of the House Republicans, will lead to a default on treasury debt and the destruction of our financial system, stop Social Security payments and vetrans benefits and that even the poor uranium waste disposal workers might be stiffed by Uncle Sam!
But while Barack Obama portrays himself as the concerned protector of the "Main Street folks", the reality is that he is an ideologue who has as his number one and number two goals the dismantling and demise of the Republican Party and the destruction of our American way of life the way that we have always known it.
So let me help the President, his Democrat counterparts and the members of the mainstream media by providing some simple math from National Review Online!
Simple budgetary math that looks at facts rather than a White House misdirection plays meant to confuse and distract from reality!
Simplified math that clearly shows why, no matter what, a U.S. default is not in the cards!
Expected 2013 monthly federal government receipts: $250 billion
Estimated monthly federal government expenditures:
Full Faith and Credit debt service on federal debt: $30 billion (est.)
Social Security: $75 billion (est.)
Medicare/Medicaid: $80 billion (est.)
Veteran Affairs: $12 billion (est.)
And so on!
Might some parts of the federal government need to be put into abeyance for a period of time? Yes.
But is there any risk to the full faith and credit treasury debt outstanding? Absolutely not!
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