We have all heard the President warning against DEFAULT! And the Treasury Secretary Warning against DEFAULT!
What they are not telling is that THEY ARE LYING!
A refusal to immediately increase the debt ceiling DOES NOT mean DEFAULT!
And the President is lying when he says, "the debt ceiling will not allow us to add new debt, it is about paying the bill we have already incurred" No, Mr. President it is about adding more debt.
Here are the facts, according to the GAO. The interest on our debt is currently $22B/mo. HOWEVER we bring in $240B/mo. in revenue. Therefore, a refusal to raise the debt ceiling does not mean default. It means the government must cut spending by $22B. Given that the GAO ADMITS to making $132B/yr. in erroneous payment this should not be difficult, That and keeping Obama in Washington for a month would just about do it.
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