Dear Concerned Conservatives,
TRUST NOT ONE MEMBER OF THIS CONGRESS! This administration needs to get their head on straight. Now.
President Obama repeatedly announces he will not negotiate with Republicans until they agree to “remove the threat of default” and “end this harmful government shutdown.” The president also said that he would not negotiate on any deal that includes language he doesn’t approve of! He will not accept any changes, especially if it slows down the implementation of Obamacare.
The New Deal?
Thursday, House Speaker John Boehner (R-Ohio) announced a deal that would extend the nation’s borrowing limit by six weeks – but it won’t include any provisions to defund Obamacare.
“It gets us down the road a little bit so they can continue to talk,” Rep. Tim Griffin (R-Ark.) said after Boehner revealed the closed-door meeting deal with House Republicans.
This is not what WE, THE PEOPLE, WANT!
This Congress is messing with our futures. Our children, and their children, will never be able to dig out of this debt. They will be beholden to the government from birth!
Yet, they continue to play the uninformed …
The Treasury Department issues dire warnings in its recent “internal” report. It states that failure to increase the Debt Ceiling by October 17th could lead to economic catastrophe. The report painted a very dark picture of what could happen, “Credit markets could freeze, the value of the dollar could plummet, U.S. interest rates could skyrocket, the negative spillovers could reverberate around the world, and there might be a financial crisis and recession that could echo the events of 2008 or worse.”
As always, this “internal” report conveniently leaked out so we all could be fearful.
Then yesterday, the president goes out and scares the world using worlds like default, hostage, and blackmail!
The administration is hoping its scare tactics would push American people to apply pressures to the GOP to give in to Obama’s demands.
But, the President is out doing what he does the best: campaigning against the House GOP, rather than sitting down to negotiate and solve this man-made fiscal crisis.
The president said that America’s credit is not negotiable. Well, after the “Red Line” for Syria has been redrawn several times and eventually fading away, his statement about credit seems, well, less creditable.
Maybe we should first give our politicians some economic 101 lesson on what a Sovereign Default means.
Sovereign means “Supreme, independent and Unlimited by others.”
The Independent nature of a sovereign state means no one can force the sovereign into debt financing unless the sovereign government chooses to do so by themselves.
Sovereign Default means a sovereign state either refuses or fails to pay back its debt in full.
Throughout the history, the countries who experienced Sovereign Debt crisis, such as Ecuador in 2008 and Peru in September of 2000, all reached the point of default at the end of years of overspending. They spent more money than they received and covered their spending by issuing new debts to its citizens and foreigners.
But the US is different from Ecuador and Peru because no other country can issue US dollar except us.
So the US Treasury doesn’t need to raise funds either in the foreign exchange market or through increasing exports.
Our government issues the US dollars! We could just print any amount of money to pay off any level of debt.
As a matter of fact, the Federal Reserve has been doing just that, “printing” through its quantitative easing (QE) program. Otherwise, where do you think they get the $3 trillion into the US economy?
So, they print to stimulate but won’t print to keep us out of debt? Where are their heads?
Former Federal Reserve Chairman Alan Greenspan famously said “The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.”
The US will never technically default on its sovereign debt!
STOP THIS!
Let’s start with Obamacare! Delay, Defund, Repeal, Replace!
OK, technically, we know because printing money has consequences. The most direct consequence is inflation, of course.
And of course, we do not want to encourage our government to print it way out of debt.
All we are saying is that the rhetoric that both the Treasury and the President insisted upon is not true!
President Obama came out on Tuesday and merely scared the markets with his speech.
Why does Boehner’s plan have no-strings attached? They think it may be the thing to bring Obama to the table?
This just kicks the can down the road again. And, keeps us distracted!
All this tells us is that they are all of the same party – the party of power! I don’t know about you but I am not enthusiastic that any promises down the road will amount to anything other than more of the same!
Stop using Veterans as pawns Congress! Do not give into Obamacare and more spending.
If the President and the Senate Democrats are really concerned about the economic Armageddon, they would sit down to negotiate with House GOP – ON BEHALF OF YOU! Instead, it’s about their healthcare, their power, their spending and control! Doesn’t it seem the President and the Senate Democrats can’t wait for the day of default to come?
They were right when they reasoned that they would come out as winners assuming either the House GOP folds at the last minute or they can blame GOP for any sign of a worsen economy!
They know they have the lame-stream media on their side!
Here is their wake up call: there is no winner in this situation!
There is only ONE way to deal with our country’s debt problem – not through increasing debt ceiling, but through serious cuts in government spending. You know that without cutting spending, our country is on an unsustainable path.
Don’t forget the overspending poster child—Greece? The day of reckoning came in 2010 and Greece had to put its islands on sale to pay off creditors.
Do you want to see America someday put the Statue of Liberty or the empire state building on sale to pay off creditors? NO!
Senator Ted Cruz said that he would donate his salary to charity to help federal employees during the government shut down. He was ridiculed by both sides of the aisle!
You know how to tighten your belt and it’s time that Congress and this President learned!
Democrats like to promote themselves as the only party who cares for the working class people, yet no Democratic Senators came out with the same offer like Senator Cruz did.
Instead, they are busy carving out favors and exemptions for themselves under Obamacare. Make them take Obamacare like they’ve forced on us!
Instead of pressuring the House Republicans like the President called upon, let’s apply some pressure on Congress – all of them.
Ask them what they have done to address our country’s debt problem?
Ask them where the money comes from when they simply vote yes to every spending bill?
Remind them that 2014 is just around the corner!
Tell Obama and his administration to stop flying around the country to give speeches. It actually costs tax payers’ precious money and does nothing to solve the problem. We need him to stop campaigning and start governing.
Let him know that it is his job to lead the country out of chaos. It is his job put what’s best for this country ahead of politics. It is his job to lead us to the shining city on the hill!
GET ANGRY: This out of control government is shutting down and turning away BRAVE VETERANS from Memorials in their honor! Miraculously, Obama found approval for AN ILLEGAL IMMIGRANT AMNESTY MARCH on the National Mall, led by members of CONGRESS!
GIVE US A WITHOUT A “CLEAN” PLAN TO REDUCE GOVERNMENT SPENDING.
Start with Delaying and Defunding Obamacare!
Thanks for helping keep up the pressure! We are winning.
Sincerely,
Joe Otto
Conservative Daily
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