M.D. Rawlings
Classical Liberal
- Thread starter
- #21
July 12, 2011
By Randall Hoven
American Thinker
Excerpt:
Personally, I think a lot of areas could use some cutting. Maybe we fiscal conservatives should not let this crisis go to waste. Now could be a great time to get rid of the Departments of Education and Energy and virtually eliminate their budgets. Now could be a great time to throttle back on the intrusive police powers of the DEA and BATF. Now could be a great time to get the federal government out of market manipulation in housing and other "commerce", and end a lot of crony capitalism and corruption by taking some piggy banks away from bureaucrats.
The trouble is that the decisions on where to cut would come from the Treasury Secretary and ultimately President Obama. At least that is how I understand the process, which is fraught with legal and constitutional uncertainties.
That is, the real danger is not in the debt ceiling itself, but in giving Obama the power to cut $1.1 trillion however he pleases. Obama could very well decide to not make interest payments, thus defaulting. He could decide to not pay our military men and women. He could decide to short-change seniors dependent on government pensions. In short, he probably could bring about financial Armageddon with a few strokes of his autopen.
LINK
This isn't even close to being the worst case scenario. Not only is it not even in the same ballpark, its not even in the same city, state, country or even continent.
The worst case scenario by far is a default which triggers a serious of events which causes the financial system to implode, and makes the Lehman-induced collapse in 2008 look like child's-play.
I cannot believe the politicians would be this fucking stupid to play chicken with this. But today, we started looking at ways of protecting ourselves if this happens.
Playing chicken? You mean the Republicans, apparently. Obama wants tax increases in the midst of a recession, but refuses to give any specifics about what he intends to cut. Then agrees to entitlement cuts only to be told by his base that's a no go. So he withdraws that offer.
Where is his plan? What is his plan?
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