Have nothing to do with the [evil] things that people do, things that belong to the darkness. Instead, bring them out to the light... [For] when all things are brought out into the light, then their true nature is clearly revealed...

-Ephesians 5:11-13

Tag Archives: Debt Ceiling

“Continuing Revolution” Tea Party Rally Raises Questions

Tea Party Protest, Pennsylvania Avenue, Washin...

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Mark Meckler, co-founder of the Tea Party Patriots, is the organizer behind Thursday’s “Continuing Revolution” rally at the Capitol, and said that:

We expect to see a bunch of frustrated, angry patriots who want to see serious cuts to government spending. I think it’s a huge gut check. This is a way for us to judge [our congressmen] and see how serious they are and to prepare for the 2012 elections.

Tea Party-supported candidates promised during last fall’s campaign to cut the federal budget by at least $100 billion. So far, negotiations between the Republican-controlled House (with at least 50 new representatives who were propelled there by the energy of the Tea Party) and the still-Democrat-controlled Senate has

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Obama Budget Sleight of Hand

Of all the explanations, statistics, projections, and conjecture about the Obama administration’s new budget, nothing has had the impact of this simple graph in showing the assumptions, misstatements, and downright falsehoods that are required to “make the numbers work.”

The source for this very telling graph is the Obama administration’s Office of Management in budget. Below is the graph, as it appears in the Wall Street Journal.

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Spending on Military and Wars Rising but Cuts are Off-Limits

USS DWIGHT D EISENHOWER CVN-69: Iranian aircra...

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In an exciting, well-researched and gripping novella in the December issue of Popular Mechanics, author Erik Sofge concludes that the war between China and the United States in the year 2015 will be won by China.

It is August, 2015 and the fight is over whether Taiwan’s status as an independent nation will remain intact, or whether it will become, finally and forever, part of the People’s Republic. The big fight, however, is “between an old superpower and a new one.” Using the latest technology, the United States finds itself at a major disadvantage when China is able to render useless the high-tech and very expensive communications network relied upon by the United States. Says the author,

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Removing Geithner’s Temptation to Play Chicken with Debt Ceiling

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When Austan Goolsbee, chief economic advisor to the Obama administration, was asked about the impact not raising the debt ceiling would have on the country, he said, “This is not a game. If we hit the debt ceiling, that’s essentially defaulting on our obligations, which is totally unprecedented in American history.” He continued:

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What If the Debt Ceiling Isn’t Raised?

Ceiling Fan

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Following the petulant pronouncement from the Obama administration’s chief economics advisor that any suggestion of not raising the debt ceiling was engaging in a “game of chicken,” two other establishment types noisily concurred.

Timothy Geithner, the U. S. Secretary of the Treasury, said that failure to raise the ceiling “could make it impossible for the U. S. to access global credit markets,” while Bill Gross, the co-CEO of PIMCO, the world’s largest bond fund manager, plainly implied that unless the ceiling were raised promptly, the U.S. could lose its coveted AAA credit rating: “Ultimately, if we continue a trillion-dollar-plus [annual deficit] then, yes, your credit rating will be threatened.”

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Austan Goolsbee’s Petulance

Official portrait of CEA member Austan Goolsbee.

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During Sunday’s interview on ABC’s “This Week” with the Obama administration’s chief economics advisor, Austan Goolsbee, he warned opponents not to treat the issue of raising the debt ceiling as a game or a toy.

This is not a game. If we hit the debt ceiling, that’s essentially defaulting on our obligations, which is totally unprecedented in American history.

The impact on the economy would be catastrophic. I mean, that would be a worse financial economic crisis that anything we saw in 2008. I don’t see why anybody’s talking about playing chicken with the debt ceiling.  [If the debt ceiling isn’t lifted], that would be the first default in history caused purely by insanity.

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Bloodbath Coming?

Mel Gibson as William Wallace anachronisticall...

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White House deficit commission co-chairman Alan Simpson spoke at a Christian Science Monitor roundtable on Friday morning saying, “I can’t wait for the blood bath in April. It won’t matter whether two of us [on the commission] have signed this or 14 or 18. When debt limit time comes, they’re going to look around and say, ‘What…do we do now? We’ve got guys [House freshmen] who will not approve the debt limit increase unless we give ’em a piece of meat, real meat, off of this package.’ And boy the blood bath will be extraordinary.”

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The National Debt: Scary Facts, False Conclusions, and Gumption

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When Anthony Mason, CBS News’ senior business correspondent, visited the Treasury Room, he called it the location of “essentially the American credit card machine.” It’s where traders buy and sell United States’ treasury bills, notes, and bonds in order to finance government operations. Mason’s revelation was profound: “I found that room kind of spooky. If we can’t [sell] those IOUs—which keep the government running on a day-to-day basis—then we can’t run the country anymore. We [won’t] have the money.”

CBS then went on to review the repetitive and increasingly tiresome litany of disasters that await if those IOUs can’t be sold:

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Many of the articles on Light from the Right first appeared on either The New American or the McAlvany Intelligence Advisor.
Copyright © 2018 Bob Adelmann