The U.S. Government Debt Default Bogie Man Scares No One

By the time “Obama the candidate” was elected ….I had reached my capacity for hearing the sound of his voice…then after he was sworn into office, and became “Obama the President”, I once again grew weary of his smug inedptness and unjustified arrogance every time he opened his mouth. Thank goodness less than a month later he officially morphed into “Obama the Liar”. Now, just listening to him as he reads the speeches written for him to give will send me running out of the room screaming …Fast forward to today ….I am at peace because i have found solace in the knowledge that every single thing he says is a lie. So, like the little Barachio, who hollered wolf too many times ….when Barry announced (ad nauseum) that “the USA would run out of money on the 2nd and we would default on all of our debts on the 3rd”, all I could do was howl with laughter that anyone would allow themselves to be heard saying something so simple minded and provably false. Apparently I am not the only one who has effectively tuned out the elephant eared dummy. In this article, J.D. Foster PhD does a great job of explaining why no one believes Barrachio now that his plans to pound the final stake into the heart of America is dependant upon him being able to create enough of a diversionary panic to slide one more right past 300 million people…again. CEJ

The U.S. Government Debt Default Bogie Man Scares No One

Ever since the debate over the debt limit began in earnest at the start of the year, the Obama Administration, led by Treasury Secretary Tim Geithner, has implied that the U.S. might default on its publicly held debt. In his press conference today, the President said that “it is not acceptable for us not to raise the debt limit and to allow the U.S. government to default. We cannot threaten the United States’ full faith and credit for the first time in our nation’s history.”

The fear of default and the catastrophic consequences that would follow, they hoped, would force congressional Republicans to cave on accepting tax increases. Much to the apparent frustration of the Administration and to the surprise of many conservatives, it hasn’t worked.

Why didn’t the debt default bogie man scare the Republicans? It did, at first. Especially as the farce was repeated over and over even by voices in the media who should have known better—and probably did. But eventually the facts won out over fear. CONT”D HERE

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