First, I draw your attention to the great state of
If the limit on Uncle Sam’s credit card is not increased by Aug. 2, nothing will happen; zip, zero, zilch, nada. Most of the $$$ Uncle Sam pays out is automatic, and there is more than enough $$$ to pay off all Treasury paper being redeemed, Social Security/Medicare/Medicaid/Welfare payments, all wages for federal law enforcement and the military, and even all Federal employees will get paid.
The President and SecTreas are flat-out lying to you when they imply that you won’t get your Social Security check starting Aug. 3. What will really happen? The cash flow shortfall will come out selectively from voluntary/optional payments like foreign aid payments, agricultural subsidies, and so forth. Explain to me why this is a bad thing?
The President has the Sword of Damocles hanging over his head: unless Republicans cave, he is a whole heap ‘o trouble. Republicans must realize this, or they will miss a once-in-a-lifetime oppurtunity to truly limit the size of the Federal behemoth (this also makes an excellent opportunity to de-fund Obamacare). One can only hope that the power of the Tea Party in the House gives Country Club Republicans a spine.
As for McConnell’s cockamamie end-around the Constitution he pronounced today, sigh…not a good sign, sounds like a capitulation-in-the-making.
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