Fear-mongering works – why not try again? This must be the thinking behind Obama’s latest attempts to manipulate the new Congress. Austan Goolsbee, chairman of the U.S. Council of Economic Advisers, trotted out before the cameras this week to threaten the Republican Congress, saying that if they don’t raise the limit on the USA’s debt ceiling, the “impact on the economy would be catastrophic.”
Goolsbee spun the new lines cooked up in the White House communications office on ABC’s This Week: “If we get to the point where we damage the full faith and credit of the United States, that would be the first default in history caused purely by insanity.”
The real insanity is to continue to roll up debts we have no hope of paying. Goolsbee’s comments are part of a coordinated preemptive plan to blame the new Tea Party Republicans as the economy sputters. When fear reaches high levels, people don’t think clearly, and this is exactly what Obama is counting on. Read More
