Moody’s calls “Bullshit”

On that debt limit issue:

” We believe the government would continue to pay interest and principal on its debt even in the event that the debt limit is not raised, leaving its creditworthiness intact,” the memo says. “The debt limit restricts government expenditures to the amount of its incoming revenues; it does not prohibit the government from servicing its debt.”

See: all the debt limit does is stop the deficit spending. Much like a limit on a credit card, you can only go into debt so far….then, as you pay down the debt, you can spend some more, but your debt only can be so high. It doesn’t mean that you can’t write a check to the power company or your landlord, just that you can’t buy more stuff without finding a way to pay for it. Congress wants to keep Barry and the DNC Senate from getting another credit card. Barry says that not raising the limit will cause “Economic Chaos!”….and it will for some…if they depend on further government spending for their livelihood….For the rest of us though….

Either Barry and the DNC are stupid, or they believe that you and I and all our neighbors are stupid. I think that they are lying, and a significant portion of the country doesn’t understand well enough (or at all) to detect the lie….Especially when the News Media isn’t calling them on that lie.

All this does is put the USA on a balanced budget. Cuts WILL have to be made (strangely, the Sequester didn’t keep this from happening) and the screaming as to exactly where those cuts will have to be made will be loud, strident, and cries of “Calamity!!!” will come from every quarter. But ultimately, for the first time in decades, the US will be on a balanced budget (at least, kinda/sorta, because both parties will play games with the numbers….but it’ll be closer to balanced than we have been in many years.