House Republican leaders are pushing a six-week increase in the debt limit, without any conservative strings attached, to calm jittery financial markets, according to senior GOP advisers.
The plan was presented to the House GOP caucus Thursday morning after Treasury Secretary Jack Lew warned lawmakers that he would be unable to guarantee payments to any group — whether Social Security recipients or U.S. bondholders — unless Congress raises the federal debt ceiling.
The notion that if the government can’t borrow any more money, the economy collapses, is bullshit.
What this actually is, though, is a naked admission that the government can’t function without an endless credit card. As for “the government not paying its bills,” this is bullshit, too. The government could stop paying for the Department of Education, the Department of Labor, the Homeland Security Agency, the Health and Human Services Department, and a host of similar useless agencies tomorrow, and it wouldn’t affect the economy at all, except to give it a boost.
The only possible problem that might occur would be if we defaulted on the interest or payoffs of our bonds, but there is not even the remote possiblity of us doing that, whether the debt limit is increased or not.
What the Obama people are trying to do is borrow money in order to fund new bills they intend to run up in the future!
You’ll never hear that from the Leftist Media, but it’s the truth.