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Politico Mocks Debt Raise Opponents As ‘Deniers’

From the Politico:

Back in force: Debt limit deniers

By BEN WHITE and SEUNG MIN KIM | October 9, 2013

Wall Street and the White House are warning that failure to raise the nation’s debt limit will result in an economic apocalypse. “There is no silver bullet. There is no magic wand that allows us to wish away the chaos that could result,” President Barack Obama said on Tuesday.

But there is a hard-core group of Republicans in Congress who say it’s just not true. Yes, the debt limit deniers are back in force.

So now Republicans are being called ‘Debt Limit Deniers.’ Which is the same old ploy we see from the Democrats and their lickspittle media minions, time and again. If they can’t smear their opponents as racists of homophobes, they call them ‘deniers’ to make them sound like ‘Holocaust Deniers.’

By the way, were Joe Biden, Hillary Clinton, John Kerry, Harry Reid, or the sainted Ted Kennedy ever called ‘debt deniers’ when they voted against raising the debt ceiling under President Bush?

Of course, these are rhetorical questions. The Democrats opposed raising the debt ceiling for a noble cause. They were trying to make Bush lose the War In Iraq.

You can spin all the scary tales of default you want and they won’t believe you. They say if the $16.7 trillion borrowing limit is not raised by Oct. 17, as Treasury demands, then the U.S. government will still collect more than enough cash each month to keep paying bondholders. And if Uncle Sam can’t pay Social Security recipients or anyone else while it forks over interest payments to the Chinese?

“Tough luck,” these people say. The nation spends too much as it is. Blocking a debt ceiling increase will provide the radical shock therapy the nation desperately needs to start living within its means.

“We have 10 times as much tax revenue as we’ve got annual interest on the debt obligations,” Rep. Mo Brooks (R-Ala.) said in an interview, offering the key talking point of the debt limit denial caucus. “So if the president does not want us to default on our credit or obligations, we won’t.” …

What lunatics!

“I ran on not raising the debt ceiling,” said Rep. Ted Yoho (R-Fla.). “We will not default. And I think it’s a lot of hype that gets spun in the media."

The persistence of this point of view helps explain how raising the debt limit transformed over the past three years turned from a largely pro forma exercise in grandstanding into a high-stakes game of political chicken with the fate of the global economy hanging in the balance.

The party out of the White House has long used debt limit votes as opportunities to score political points by arguing for spending restraint. Obama himself did this while a senator in 2006, voting against raising the debt ceiling, something the president now says he regrets. The debt limit deniers often point to that vote when making their case.

But these votes were generally done with an understanding that they were symbolic and that a debt limit increase would still pass. That cozy consensus is now pretty much gone, blown away by tea party candidates elected in 2010.

So the Politico has finally come up with a way to spin those inconvenient votes. They didn’t mean anything. Because everyone knew the debt ceiling would eventually be raised.

And never mind this isn’t true in 2006 and 2006. And it certainly wasn’t true in the countless other times that members of Congress have voted against raising the debt ceiling — and even filibustered to keep it from being raised.

Yoho’s view is belied by current action in the global markets: Stocks are dropping triple digits each day, volatility is rising and Treasury is already facing far higher borrowing costs on short-term debt…

And all of Obama’s fear mongering has nothing to do with it.

This article was posted by Steve on Wednesday, October 9th, 2013. Comments are currently closed.

One Response to “Politico Mocks Debt Raise Opponents As ‘Deniers’”

  1. GetBackJack says:

    I’m not a Denier! I Do Not Deny The US Goverment is so in debt they’ve redefined the meaning of the word.

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