Saturday, July 23, 2011

If Debt Is the Enemy Then There Are Traitors Among Us

"The McConnell plan is blatantly unconstitutional for the fact that it allows for the Legislative Branch to cede the power of the purse to the Executive Branch; Congress -- and specifically, the House -- is constitutionally bound to craft, create and enact all financial legislation. Ceding power to the Executive Branch to "raise the debt ceiling" -- as does the McConnell plan -- is granting the Executive Branch powers reserved for the Legislative Branch. Lawsuits should be readied."

July 23, 2011

By Frank Salvato

The so-called “debt ceiling default crisis” continues to loom, with enough Progressive-Leftist demagoguery in the air to choke a horse, or, in this case, kill an economy. I roll my eyes at the term “debt ceiling default crisis” because the honest man – an increasingly rare species in federal government – understands that there can only be a crisis should President Obama choose to create one. That said, Republicans, TEA Partiers and Conservatives are in danger of doing the right thing in refusing to enable more debt, but losing the public relations war to what amounts to the traitors among us due to chronic messaging impotency.

According to the Daily Treasury Statements, approximately sixty percent of every dollar gleaned by the US government comes to it in the form of revenue generated by taxes. This amounts to roughly $200 billion a month. Given that the debt interest due per month is approximately $29 billion, even a third grader from an under-achieving inner-city Atlanta public school can deduce that there is absolutely no possibility of the United States defaulting on its debt interest payments. The “debt ceiling default crisis” is not so much; it is a ruse, a canard, a fallacy…it is a lie.  Read More