A year and a half ago when the national debt was “only” 14.3 trillion, Obama cried foul when Republicans attempted to inject some fiscal responsibility into the most irresponsible Administration in the nation’s history. At that time, Obama claimed that the GOP’s efforts to link the debt ceiling to a serious effort to address the nation’s unsustainable debt accumulation under his watch would be catastrophic and would result in seniors missing their Social Security payments and other such nonsense. This was typical Obama shuck and jive, of course, and on July 13, 2011 Governor Palin called him out on it:
The relevant quote begins at about the 5:10 mark and it’s worth excerpting here:
We have the $200 billion coming into the federal government every month. It takes $35 billion — I’m sorry, billion dollars — we have $35 billion that we must use to service the debt, $50 billion that we must use to write those Social Security checks, $2.9 billion to pay for our military personnel, and then other essentials.
You prioritize. Our president essentially suggested the other day that he’s not able to prioritize. As the chief executive of our nation, he cannot prioritize, and that’s why he suggested that Social Security checks may not be written come August 2nd if that debt ceiling isn’t increased.
No. You pay for the essentials first and then the non-essentials have to get cut. They have to wait.
Today, a mere eighteen months later, with the national debt now $16.4 trillion (which works out to about $117 billion in additional debt per month since the last debt ceiling increase, Obama’s essentially repeating the same BS.
As I said earlier this week, one thing I will not compromise over is whether or not Congress should pay the tab for a bill they’ve already racked up. If Congress refuses to give the United States the ability to pay its bills on time, the consequences for the entire global economy could be catastrophic. The last time Congress threatened this course of action, our entire economy suffered for it. Our families and our businesses cannot afford that dangerous game again.
So now instead of specifically mentioning social security, Obama’s claiming that refusal to grant him trillions more in debt – with no strings attached – will prevent the United States from paying their bills on time (i.e. defaulting on their debt). Today on Fox News Sunday, Ted Cruz was asked essentially the same question Governor Palin was asked in 2011. His response was vitually identical to Governor Palin’s:
Let me be clear, I do not support default on the debt and we should never default on the debt and the only players who are threatening to default are President Obama and Harry Reid. This is an issue, and earlier in the show you played the President threatening default. In any given month tax revenue are 200 billion and interest is 30 or 40 billion. There is it plenty of revenue to service the debt and any responsible President would’ve stood at that podium and said ‘whatever happens with the debt ceiling, we will always pay our debt. We’ll never default on the debt’ and the reason the President isn’t doing that is he’s trying to scare people and raise the spector of financial apocalypse.” – Sen. Ted Cruz (R-TX) on Fox News Sunday 1/6/12
Just as Governor Palin had it exactly right in 2011, so does Senator Cruz today. There’s no threat of the government defaulting on its debt obligations if the GOP refuses to give Obama another multiple trillion dollar extension on his credit line. There’s plenty of money coming in each month to pay the interest on the debt, just not enough to continue Obama’s payoffs to cronies and big government fantasies. Click below to listen to Cruz’s entire Fox News Sunday interview:
Too bad more of our Washington betters hadn’t listened to Governor Palin in 2011. If they had, maybe our children and grandchildren wouldn’t be on the hook for an additional $2.1 trillion in debt and history about to repeat itself. Imagine a future with a President Palin, Senate Majority Leader Cruz, and Allen West returning to the House as Speaker. With such a leadership team, America’s seemingly insurmountable problems created by Obama and his fellow travelers would be reversed in short order.