Posted on 01/11/2013 10:05:56 AM PST by IndePundit
Three false arguments, pushed hard by the Obama administration and accepted on faith by the media and much of the political establishment, must be laid to rest if the American people are to understand the issues at stake in the federal "debt ceiling" debate. The first is that Congress's failure to raise the debt ceilingthe amount of money the federal government is authorized to borrow at any given timewill cause a default on the national debt. The second is that federal entitlement programs are constitutionally protected from spending cuts. The third is that the president can raise the debt ceiling on his own authority.
(Excerpt) Read more at online.wsj.com ...
Gee, I’d luv to read that but, they want me to subscribe....
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