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De Omnibus Dubitandum - Lux Veritas

Monday, May 22, 2023

Debt Ceiling Scare Tactics

The Democrats and their media allies are in the midst of their usual campaign to pressure Republicans to vote for an increase in the debt ceiling.  The national debt now stands at over 31 trillion dollars.  The debt will never be paid.  This amount is more than any government has ever repaid throughout history.  The only questions are about the exact nature of the ultimate disaster and how soon that will happen.  The left's tactics in this campaign should be obvious and have been the same for many years.   The left has spread the idea that failing to raise the debt limit somehow equals "default" on the existing debt.  While the U.S. will someday default on the national debt, such a default will not be caused by a refusal to raise the debt limit.  In fact, refusing to raise the debt limit might delay any default for a long time.  In 2022, the federal government's revenue almost equaled 5 trillion dollars.  At the same time, service/interest on the debt was less than 400 billion dollars.  There is enough tax revenue to service the national debt every year without increased borrowing..............To Read More....

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