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    Moody's on Debt Limit: Calling Obama's Bluff on Default

    A voice of reason emerged today among the doomsday predictions over a U.S. government default if the debt limit is not raised by mid-October. The Washington Post reports that Moody’s, a top credit rating service, suggested that hitting the debt limit does not mean the U.S. would default: “We believe … More

    Three Magic Tricks Washington May Try to “Solve” the Debt Crisis

    Yesterday in a press conference regarding the national debt, President Obama stated: “There is no magic wand that allows us to wish away the chaos.” This is true, especially when one considers America’s massive debt and its long-term consequences. However, as Congress and the President (finally) begin to grapple with … More

    Why Is Obama Needlessly Scaring Seniors?

    Apparently things aren’t ugly enough in Washington, so President Obama has started scaring senior citizens. “In a government shutdown, Social Security checks still go out on time,” he said last week. “In an economic shutdown, if we don’t raise the debt ceiling, they don’t go out on time.” This scaremongering … More

    Obama Needlessly Scares Seniors: Social Security Checks and the Debt Limit

    President Obama is needlessly scaring seniors by suggesting that their Social Security benefit checks may not arrive on time if the U.S. runs out of borrowing authority at the debt limit. The 57 million Americans who receive Social Security benefits should know that their benefits will not be affected—unless President … More

    World’s First “Trillionaire” Offers to Pay Down U.S. National Debt

    KLTV.com-Tyler, Longview, Jacksonville, Texas | ETX News A restaurant manager from Tyler, Texas, briefly became the world’s first trillionaire earlier this week—until his $4 trillion bank balance was found to be an online glitch. In an interview with KLTV, Reggie Theus said he would have used $3 trillion of his … More

    Without Reform, Entitlement Spending Poses a Default Risk

    The Obama Administration argues that failure to raise the debt limit would lead to a default on federal debts, causing unacceptable harm to the economy. But the President has ample discretion to prioritize debt payments and avoid default. The President has failed to address the more fundamental risk of default: … More

    Obama Debt Limit Proposal: We Spend More, You Pay More

    During remarks given after the passage of the Senate continuing resolution today, President Obama stressed once again his unwillingness to work with Republicans to find spending cuts before increasing the debt ceiling, while suggesting that he was otherwise eager to find a solution to America’s fiscal future. The President stated: … More

    61% of Americans Want Spending Cuts Before Debt Limit Is Raised

    A clear majority of Americans believes that imposing a firm limit on borrowing with spending cuts is the only chance for Congress to kick its gluttonous spending habit. A recent poll released by Bloomberg shows that the majority of Americans oppose President Obama’s demand that Congress raise the debt ceiling … More

    Debt Ceiling Raised Seven Times Under Obama, Costing $43,000 Per Household

    Did you know that since President Obama came into office, the debt limit has been raised seven times? With those increases, Congress has added $43,000 in debt for every American household in just the last four years. And now the debt limit deadline is looming again. Treasury will run out … More

    Plan to Suspend Debt Limit Means Debt Would Rise to $17.8 Trillion

    Treasury Secretary Jack Lew announced a new debt ceiling deadline today, urging congressional lawmakers and the President to come to an agreement concerning the nation’s borrowing authority by October 17. Republicans are proposing a $1.1 trillion increase in the debt limit by suspending the cap through December 2014. The big … More