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July 30, 2011
Video: The Obama-Reid Debt PlanTopics: Political News and commentaries
Great video - The Doorbell - perfectly encapsulates the Obama-Reid debt plan in a nutshell.
Meanwhile, as President Barack Obama, Treasury Secretary Tim Geithner, and many in the media continue to forward the claim that the federal government will default on August 2 if we don't increase the debt ceiling ... Ron Meyer writes at Townhhall that the real truth is that such a claim is an absolute farce and that if the government fails to raise the ceiling the worst-case scenario is a cold-turkey balanced budget. The government will never default unless Geithner and the Obama Administration take it upon themselves to not to use the $2.2 trillion of annual revenue to pay our most important bills.
And Reid is changing his debt-ceiling plan to woo Republicans (but is reported to have a secret $3.8 trillion tax hike).
Posted by Richard at July 30, 2011 10:45 AM
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- Video: The Obama-Reid Debt Plan - Jul 30, 2011