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August 2nd Debt Deadline Armageddon?

25 Jul

People aren’t falling for it. 

In spite of all the claims of calamity and misery if the debt limit isn’t raised by August 2nd, a constant drumbeat from the White House, Congressional Democrats and their megaphone in the lame stream media, apparently we’ve grown accustomed to these kinds of wild-eyed claims in the past that proved to be utterly false.

TARP, anyone?  Stimulus?  Automaker Bailouts?  They were all sold as absolutely necessary and something that needed to be done with great haste.

We recognize this all-too-familiar tactic used to frighten people into going along with each hare-brained government scheme to seize more and more of the economy.

As to whether or not people believe that the failure to raise the debt ceiling by August 2nd has been successfully sold, here’s an online poll from Mark Levin’s website.

 

I realize that this is not a scientific poll and it is from Levin’s listeners, probably the most informed and most conservative people in the country, but some of them actually fell for TARP initially.  92% of them think this whole thing is a con job and an artificial deadline being hyped by the most dishonest President ever to hold office.

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3 responses to “August 2nd Debt Deadline Armageddon?

  1. Pedro

    July 25, 2011 at 10:47 am

    Default Now, or Suffer a More Expensive Crisis Later Ron Paul – Bloomberg‏.

    This is an interesting perspective, like Ron Paul or not. Have a read and think about it.

    http://www.bloomberg.com/news/2011-07-22/default-now-or-suffer-a-more-expensive-crisis-later-ron-paul.html

     
  2. Saddlesore

    July 25, 2011 at 12:21 pm

    Actually, the big media lie is that a refusal to raise the debt ceiling does not create a default. The consequence of a refusal to raise the debt ceiling is that the government can only spend the actual dollars flowing into the treasury and can no longer borrow funds (but it can rollover existing debt).

    Since money continues to flow into the treasury, it can pay any interest and principal payments that need to be made, and then must allocate the remaining (substantial) funds to spend. It will have to reduce spending the level of remaining funds net of the principal and interest payments. If there is a default it is because and only because Obama and Geitner choose to do so.

     
  3. Schiller Rick

    July 28, 2011 at 9:11 pm

    i find it odd that the last person to make August 2 significance between Armageddon and the rise of the sothic star (Julian July 20 on Gregorian Aug 2) was Saddam Hussein whose choice of seeing that star rise on its first day must occur on the 30th parallel from Giza to Cairo and the Kuwait border. He even built his army the 70 days the star is absent. Now that was a Moslem prediction of Armageddon (mother of battles). Is this our Christian president’s prediction?

     

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