Skip to comments.One Obama Presser, 36 Obama Lies and Deceptions
Posted on 07/19/2011 10:11:34 AM PDT by Nachum
Obama held a press conference last Friday, July 15 which turned out to be a purely partisan effort to increase taxes and increase the American debt. His speech and the answers he gave to cherry picked questions from the press was fundamentally dishonest: in all I counted three dozen lies, deceptions and misleading statements.
Deception 1. "make sure that the United States does not default on our obligations, and that the full faith and credit of the United States is preserved."
There is zero risk of a default to the creditors of US debt. The federal government takes in about $170 billion each month in revenues, but pays less than $29 billion each month in interest on the debt. The Bipartisan Policy Center has laid out a plan where the Treasury could pay: all debt interest, all Social Security obligations, all Medicare and Medicaid obligations, all Defense contractor bills, all Veterans payments, all active duty troops; and still have almost $7 billion left over every month for other items.
Obama is using pure political scare tactics to deceive uneducated voters into supporting his position. There is no risk to "the full faith and credit of the United States" unless Treasury chooses to default. Not raising the debt limit will cause a limited government shutdown, not a default, as Obama insinuates.
Deception 2. "I think we should not even be this close to a deadline on this issue; this should have been taken care of earlier."
(Excerpt) Read more at americanthinker.com ...
Seen it before? Yep.
1987. When R. Reagan referencing The Balanced Budget and Emergency Deficit Control Reaffirmation Act of 1987 stated:
" The first provision extends the Federal Government's authority to borrow funds. This is an action that we just take to prevent the Government from defaulting on its obligations, and I have no objection whatsoever to doing so. In short, this extension of the debt limit is necessary and unavoidable. "
" But the second provision is one to which it is my duty as President to voice the strongest possible objection. For this second provision involves a so-called fix of the Gramm-Rudman-Hollings deficit reduction law a fix that doesn't fix things in the right way. "
Reagan objected to the legislation because it would have required an estimated $23 billion in Automatic Spending Cuts in the 1988 budget, if Congress and the president failed to reduce the deficit.
On Nov. 20, 1987, Reagan and Democratic leaders announced a deal in which the GOP president dropped his demand for no tax increases in exchange for smaller military cuts. The New York Times reported that the deal included $9 billion in tax increases, $9.6 billion in one-time fee increases, and $11.6 billion in spending cuts including $5 billion in military spending cuts. Reagan signed a final version of the budget on Dec. 23, 1987.
@michellemalkin Michelle Malkin What now? RT @foxnewsradio: MAC @ White House says Pres Obama to make a statement at 1:30pm (EDT) from the briefing room
Liar in chief.
Joe Wilson was right... Obama lies