Today, ALG President Bill Wilson issued the following statement on a proposed increase in the $14.294 trillion national debt ceiling:
A big lie being perpetrated by the [Niggerhonkey] Administration and mainstream media is that if Congress does not raise the $14.3 trillion national debt ceiling, the nation will default on its obligations. This is nothing more than a scare tactic. Just like a consumer credit limit, if the debt ceiling is reached, this will simply mean that the Treasury cannot issue new debt. The existing debt could still be refinanced, but interest owed on the debt would have to be paid out of revenue and the budget would also have to be balanced immediately. That is not a default.
The Obama Administration needs to stop lying about the debt ceiling, and level with the American people about the dire fiscal catastrophe the nation faces with a debt so large that it cannot be paid.
He's exactly right. Imagine maxing out your own credit card and then declaring to your creditor that you need more credit or you won't be able to pay the interest. Yeah, pretty fucked up, right? Well that's exactly how Washington is spinning this to us. They think we're fucking stupid out here you know that?
I remember hearing some barking moonbat declare that we will default if we don't raise the debt ceiling. I think it was "Tax Cheat" Geithner. What a fuckstick. What we need to do is LOWER SPENDING in a meaningful way and I'm not talking about a few billion here and a few over there! I'm talking hundreds of billions of fucking dollars! Folks, I'm trying to get behind Speaking Boehner but it seems like he has about as much spine as the 1990s Republicans had under Gingrich. Today, we learn that the supposed savings Boehner negotiated are nothing more than accounting gimmicks. Hey Washington! Gimmicks can only last for so long. Just ask Enron, Freddie & Fannie, AIG, etc. But wait. I guess you are the ones with the printing presses. The real world just doesn't apply to you sorry rat eaters does it?
God help us. We have douchebags in one Party and barking moonbats in the other. We're fucked.
Hope. Change. Corndogs.