Tuesday, May 17, 2011

Timmy Tax-Cheat trying to scare the public with the default boogie man

James Pethokoukis scoffs at the Treasury Secretary’s assertion that failing to raise the debt ceiling would “force” the United States into default on its obligations.

There is plenty of revenue available to cover interest payments over the short-term, if the government cuts back in other areas. So, be advised: if the debt ceiling isn’t raised, and the U.S. defaults, this represents a conscious and explicit choice by the Obama administration.

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