The definition of “scare tactic”: a strategy intended to influence public reaction by the exploitation of fear.
President Obama is claiming that if Congress does not raise our debt ceiling, America will default on its obligations for the first time in our country’s history. His claim is untrue.
Regardless of the debt ceiling, tax revenue will continue to flow into our Federal government coffers, to the tune of over 200 billion per month. The interest on our debt is 30 billion per month. It will be the President’s decision on how to allocate that 200 billion. If he chooses to default on the interest payment, it would be his choice alone. There is plenty of money to pay the interest on our debt as well as Social Security and other entitlement obligations. Much like an American household, the Federal government would finally have a limit on spending.
Current tax revenues are at their highest in the history of our country. So is our debt, which is approaching 17 trillion dollars. If Congress would agree to return our country to the spending levels of 2008, there would be enough tax revenue to not only cover our expenditures but to also balance the budget.
The danger to Republicans is the uninformed voter. In Treasury Secretary Jack Lew’s interviews on the Sunday talk shows, he repeatedly refused to answer the question about defaulting on our debt. Speaker John Boehner held his ground but did not clearly explain the debt ceiling debate in his interview with George Stephanopoulos. Taking a stand against increasing our debt is progress, but the entire situation must be clearly explained to the American people. The sky is not falling.
This Democrat tactic of lying to voters and blaming Republicans can be stopped if the GOP would go on the offensive.
Ask your Congressman and Senators to explain, simply and succinctly, the facts about the debt ceiling debate. We see President Obama campaigning on a daily basis with dozens of supporters lined up behind him to lend credibility. Republicans can do the same. The difference is that we will be telling the truth to the American people.