This is quite amusing and worth reading:
President Obama is pulling out the big guns and pointing them straight at your grandmother. “Obama on Tuesday said he cannot guarantee that retirees will receive their Social Security checks August 3” absent an agreement with Congress to raise the debt ceiling, CBS News reports:
“I cannot guarantee that those checks go out on August 3rd if we haven’t resolved this issue. Because there may simply not be the money in the coffers to do it,” Mr. Obama said in an interview with CBS Evening News anchor Scott Pelley, according to excerpts released by CBS News.
At a press conference yesterday, Obama demanded that Republicans not only authorize trillions of dollars in new borrowing,which at this point seems unavoidable, but agree to what he called “massive, job-killing tax increases” effective in 2013–i.e., after what he expects will be his re-election.
And of course, the press lapped it up.
For this he drew plaudits from what used to be called the mainstream media. “Obama Grasping Centrist Banner in Debt Impasse” read the New York Times headline. The Washington Post’s Chris Cillizza dubbed him “Dad-in-Chief,” explaining: “Boil Obama’s message down and you get this: Adults sometimes have to do things that they don’t want to do. This is one of those times. So, let’s get it done.”
The kids are acting up, so he threatens to starve Granny to death. That’s just how a strong father behaves.
The truth is that the money for Granny is there.
However, according to the Daily Treasury Statements published by the U.S. Treasury Department, the ongoing flow of federal tax revenue since the Treasury declared that it had hit the debt limit on May 16 has been more than sufficient to cover the combined costs of federal spending on interest payments, Medicare, Medicaid, Social Security, the Veterans Affairs department and federal workers wages and insurance benefits (including wages and insurance benefits for military personnel).
When was the last time the government shut down and Granny didn’t get her check?
I do like McConnell’s plan for a few reasons.
One, it makes Obama own the debt.
Two, it’ll never pass.
Three, if Obama raised the debt ceiling without any spending cuts, it would prove everything everyone says about Obama’s inability to do anything other than spend, spend, spend. And he still doesn’t get his tax hikes.
And if Granny gets it, it will be because that’s Obama wants.