Mike Kueber's Blog

January 14, 2013

Scare-mongering by the NT Times

Filed under: Issues,Media,Politics — Mike Kueber @ 11:00 pm
Tags: ,

Conservative pundits have been warning that big-government advocates in the media will be falsely threatening Americans that a Republican refusal to raise the debt ceiling unless there are spending cuts will result in America’s default of its debt.  The warning is false, the pundits say, because there is enough money coming into government through taxes to pay the debt as it comes due.  Instead of causing a default on debt, the refusal to raise the debt ceiling will probably cause a government shut-down of non-essential activities and the inability to send out checks to insurance beneficiaries under programs such as Medicare, Medicaid, Social Security, military pensions, and unemployment.

Not surprisingly, a NY Times editorial today warned that “Republicans have made it clear they are fully prepared to shut down the government, block payments to retirees and soldiers, default on the credit of the United States, and cause a global panic by the end of next month, all of which will result from failing to raise the debt ceiling.” 

I wrote to the Times and asked them to explain why leaving the debt ceiling at $16 billion would force the American government to default on its debt, but I’m not holding my breath waiting for an answer.

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