Deconstructing The Absurdity

Prioritization? Are you stupid enough for it…?

In Barack Obama, Debt Ceiling, Michele Bachmann, Republican Party, Tea Party on July 28, 2011 at 3:40 am

You must have heard Michele Bachmann saying in most of her interviews that she won’t vote to raise the debt ceiling. So any curious person would ask her back. What WOULD you do then? Let the country go into default? Well, on normal days Bachmann would have said, “Yeah. What’s wrong with default?” But now that she’s running for president she tries her best to choose her words. Here’s what she said, “Pay the interest only.” Really Michele? Why don’t you ask your small business owners, the one’s you proclaim to represent and support. Any small business would understand that if they weren’t paying their suppliers and they went to the bank and said, ‘Oh, we’re still paying our interest, will you lend us a lot more?’ that the bank would throw them out and consider them defaulters. The Washington Post reporting that Rep Louie Gohmert (R-Texas) and Michele Bachmann (R-Minn) and Steve King (R-Iowa), introduced a bill on Wednesday that would require the president to pay off interest on the nation’s debt first, if the debt limit is not increased by Aug 2. “The speaker is getting bad advice,” Gohmert said at a press conference. “I guess the problem with the speaker and him saying that [the debt limit needs to be raised by Aug. 2] is that he listened to the president.” If you think you’ve heard the name Gohmert before then you’re right. This is the same guy who thought the August 2nd deadline is because Obama plans to have a birthday bash on August 3rd. It’s all made up, he thinks.

‘Prioritization’ means paying the interest off the loan and not letting the treasury borrow. If the U.S were to seek that option then it would suck out $134 billion in August alone. That 10% of one months GDP. Speaking to The Daily Ko’s Ezra Klien and  Annie Lowrey paint a similar picture. So, Bachmann and crazy squad. Do some research before you jump out and start throwing out your ridiculous ideas.

While Democrats in the senate and house are pushing for the President to use the 14th amendment the White House shows no sign of taking ‘Plan Z’. “I have talked to my lawyers,” Mr. Obama said. “They are not persuaded that is a winning argument.” Also the fact the Supreme Court is a conservative one, the element of uncertainty and the possible court battled do not seem to appeal to the White House. It is also not very clear whether the country’s creditors would keep lending money if the president does take a unilateral decision.

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