Journalists are Largely Wrong on Debt Ceiling
Going from meeting to meeting I often find myself yelling at the radio. At home, I’m shaking my head while some pundit espouses nothingness. Online is no better – the main stream media is nothing more than an expensive commercial for one political party or the other and none of them seem to be getting it right.
On my way home from the gun range today, I heard a local news report (on a Conservative radio station) that ended their 10 second piece on the debt ceiling with “.. and the United States edges ever closer to default on its debt”. What .. a .. CROCK!!
August 2nd has nothing to do with defaulting on the national debt. The government takes in more than enough in revenues to service the interest on the debt, pay seniors their social security and pay medical claims for Medicare beneficiaries. The United States of America is in absolutely NO danger of defaulting on its Treasury bonds – none, nada, zilch, zero.
Why aren’t those highly-paid journalists doing their homework? That’s easy. If the debt issue had no threat of causing the end of the world, it would’t be news. Main stream America does not pay attention to politics unless there is something that the media tells them might destroy their lives.
What the media is missing is that there is an all-consuming beast. A true boogie man – we’re broke. Not college-days, scrounging for beer money broke – totally and completely out-of-money type broke.
If we pay social security, Medicare and the troops we have next-to-nothing left. Either we decide that the government will only do those things and all other programs (FAA, FCC, DoE, Education, DEA, FBI, CIA, NSA, etc) would be closed down forever – or- we reform entitlements because we know some of those other things are necessary.
The IMF is now begging for more money from us because they fear that Spain and Italy are soon to follow in Greece’s catastrophic footsteps. What the talking heads aren’t saying is that America isn’t far behind any of them. The government is spending billions more than it takes in every month – why isn’t this news?
We cannot have it all. There is no utopia. Tough choices must be made and the time is now, despite what the main stream media says. Americans will not have all the programs they currently enjoy. We are broke.