Tuesday, October 15, 2013

Does Obama want a US debt default?

While I can't be 100% that he does, his past and current actions suggest that it would certainly be in the realm of possibility!

And, despite what Barack Obama is constantly preaching to the American people, failure to raise the debt ceiling does not need to result in default!

As a former bond analyst who understands that US treasury debt principal and interest would (should) be paid first from a pool of revenue that is much more than adequate to meet all of the obligations, why does Barack Obama incessantly say that a failure to raise the debt ceiling would automatically result in default?

I suppose that in the same way this President sought to invoke the maximum pain on the American people from the sequester and government shutdown he may also choose to do the unthinkable if and when the debt ceiling is not raised.

By that I mean direct the Department of the Treasury to withhold payment on our debt.

If it isn't necessary to default why would he?

It would be because this President couldn't give a crap about the country or its people and instead will do anything and everything he deems necessary to achieve his endgame regardless of the cost.

The exact form of the Obama endgame is difficult to determine but suffice it to say that it appears to be anything but what's in the best interest of the American people.

I hope I am wrong about this premise but fear that I am not.

Picture source

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