Monday, July 11, 2011

GOP Can Relax. Obama Must Prioritize Spending to Avoid Default

America is not undertaxed. The government is overspending. Obama said if we dont raise the debt ceiling on May 16, 2011, the country would be in ruins. Well, that day came and went. Now, the projected date is August 2, 2011. Honestly, the president is full of crap. We have enough revenue to pay off the interest of our debt obligation. The president has to figure out which entitlement program is important to him. Actually, Obama has to sit down and be president for a change.

(Transcript: Rush Limbaugh Show July 11, 2011) ...And the dirty little secret -- and of course all of this, folks, I got details, I'm giving you little headlines here what's coming the balance of the program. The dirty little secret here -- and I mentioned this on Friday, I said really Boehner is not under any pressure, not from his voters. Boehner's not under any pressure from his base to do this deal, particularly on Obama's terms. And the dirty little secret here is the Republicans don't have to seek any kind of deal with the Democrats. They can sit back and they can do nothing except vote "no" on raising the debt ceiling. Now, everything I read over the weekend, even some Republicans say at some point, oh, yeah, we gotta raise the debt -- it's going to happen, it's just a matter of how they get there. But they don't have to. They don't have to. They don't have to seek any kind of deal with the Democrats. They can sit back and they can do nothing except vote "no" on raising the debt ceiling. It is Obama and the Democrats that are gonna have to figure out how to prioritize payments so the interest on our debt gets paid, but that's their problem. We don't have to do anything.

It's up to Obama whether that debt gets paid, whether it gets rolled over and paid or not. I'll explain that as the program unfolds, but it's up to the Democrats and Obama to do that. That's only fair because it's mostly their debt in the first place. We don't have to help them out of this. I'm not even engaging in hard negotiation talk. I'm just giving you facts. The Republicans really don't have to do anything here. Now, when I say Boehner's not under pressure from the base, but he is under pressure. My God, you got the media, the Sunday shows, I mean the whole mind-set is, we gotta do something, we gotta do something. They always gotta do something in Washington. Geithner on the Sunday shows, oh, oh, oh, it's gonna be worse, oh, the American people have no idea how bad it's gonna be, oh, it's horrible. Gotta do something.

No, we don't. Don't doubt me. Republicans don't have to do anything. Obama and the Democrats have to figure out how to prioritize payments. Now, the Democrats and the media, some of the leftist schlubs are out there saying, "Hey, wait, the 14th Amendment, there's a little clause in there that gives Obama the authority to spend money without Congress saying anything." No, it doesn't. No, it doesn't. It's another trick. They're taking one line out of context. I will explain that as the program unfolds. But let me tell you how the only way the country goes into default is if Obama does not prioritize the debt, and that would only happen if he let it happen, which would mean that he wants the country to go into default, 'cause it's very easily avoided. He may not want to avoid it, I don't know. But it's easy to avoid going into debt. And we explain this in great detail on Friday. The debt service is simply the bonds, not paying down the debt, not paying down the deficit, not paying down the national debt is simply servicing the bonds, that's all we're talking about here, and we can do that with existing revenue. It's plain and simple.