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As National Debt Obama Ran Up Tops $14 TRILLION (with a T), Obama’s Architect of Economic Disaster Whines About Debt Limit
Posted By Matthew Vadum On January 4, 2011 @ 11:00 am In NewsReal Blog | Comments Disabled
Common sense generally eludes pro-big government types. Take Austan Goolsbee (pictured above at left with socialist-on-the-loose Barney Frank), chairman of President Obama‘s Council of Economic Advisers. Goolsbee says the world will come to an end if America’s already outrageous $14.3 trillion debt limit isn’t raised. (The national debt just topped $14 trillion, by the way. To be precise, it’s $14,025,215,218,708.52 as of Dec. 31, 2010, according to the U.S. Department of the Treasury.)
Goolsbee told Jake Tapper on the Sunday morning talk show circuit:
Well, look, it pains me that we would even be talking about this. This is not a game. You know, the debt ceiling is not something to toy with. If we hit the debt ceiling, that’s essentially defaulting on our obligations, which is totally unprecedented in American history. The impact on the economy would be catastrophic. That would be a worse financial economic crisis than anything we saw in 2008.
No doubt defaulting on U.S. obligations would be bad, but Goolsbee’s missing the point. The reason America is in this position is because President Obama and the Democratic-controlled Congress have been spending the nation into oblivion. It’s part of the radical game plan. Generate a crisis or exacerbate an existing crisis and then use it as an opportunity to ram through more legislation calculated to destroy America as we know it.
Avoiding default is easy. Just reduce spending. Abandon Obamacare. Halt the flow of bailout money. Withhold funds to implement so-called financial regulatory reform. Rescind already approved appropriations. Implement a real salary freeze for federal employees. Scale back foreign aid. Don’t give membership dues to the United Nations. So many useless programs could be zeroed-out. It’s really not that difficult to do.
But of course doing these things would be too easy (and unfortunately there is not much evidence so far that congressional Republicans are serious about doing what needs to be done). Goolsbee continued:
As I say that’s not a game. I don’t see why anybody’s talking about playing chicken with the debt ceiling. If we get to the point where you’ve damaged the full faith and credit of the United States, that would be the first default in history caused purely by insanity. There would be no reason for us to default other than that would be some kind of game. We shouldn’t even be discussing that. People will get the wrong idea. The United States is not in danger of default. We do not have problems with that. This would be lumping us in with a series of countries throughout history that I don’t think we would want to be lumped in with.
So now people who support fiscal responsibility are the villains?
Expect more of this kind of Chicken Little propaganda in coming weeks as the left-wing architects of disaster try to delay the fiscal day of reckoning.
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