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Tuesday, 26 July 2011

THE OBAMA DEFAULT LIE

Ken Berwitz

Excerpted from Charlie Gasparino's article at foxbusiness.com:

While officials from the Obama Administration raised their rhetoric over the weekend about the possibility of a debt default if the debt ceiling isn't raised, they privately have been telling top executives at major U.S. banks that such an event won’t happen, FOX Business has learned.

 

In a series of phone calls, administration officials have told bankers that the administration will not allow a default to happen even if the debt cap isn't raised by the August 2 date Treasury Secretary Tim Geithner says the government will run out of money to pay all its bills, including obligations to bond holders. Geithner made the rounds on the Sunday talk shows saying a default is imminent if the debt ceiling isn't raised, and President Obama issued a similar warning during a Friday press conference after budget negotiations with House Republicans broke down.

If this is true - and I don't doubt for a moment that it is - Barack Obama's speech on the debt ceiling crisis last night was a 15 minute lie-fest.  To go with the countless other lies he has told voters over the 2 1/2 years of his presidency.

If mainstream media collectively grow a pair of gonads and report this, even the focus group-tested catch words, like "balanced approach", won't save him.  And shouldn't.

Hopelessly Partisan @ 13:09 PM   Add Comment

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