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The debt ceiling debate is SO ABSURD it's driving me crazy.
Here is the 7:00 hour from this morning:
http://media.worldnow.com/kfmbam/podcast/the_mike_slater_show_4866.mp3
First, THE MYTH:
We hear over and over again from our president and Geithner and the media that if we don't raise the debt ceiling by August 2nd then we are going to default on our debt. No. We will default on our debt only if we stop paying the interest on the debt (about $400 billion a year), but we're still going to pay that. If we don't raise the debt ceiling, the only thing that happens is we're not allowed to take on more debt. And that's a good thing.
The left NEEDS you to think that if we don't raise the ceiling then all you-know-what will break loose. That's not true. What the left really wants is the ability to borrow more money so they can continue to grow government.
The GOP - if they're truly interested in limiting the size of the federal government - should offer no compromise that will result in a raising of the debt ceiling. We should be talking about LOWERING the debt ceiling.
THE PERSPECTIVE:
Here is a nice recap of other reasons why this debt ceiling debate is so off track:
http://www.youtube.com/watch?v=we5FUR1Opc0
THE LUNACY:
We didn't get to it today, but check out this article from the Center for American Progress. I'm sure you can pick out a few examples of lunacy. We'll hit on them tomorrow.
