What moral obligation & what funding? 40% of every dollar that the U.S. federal gubmint spends is borrowed money. There's no "moral obligation" to spend money which the gubmint does not have. That's not immoral, that is the plain common sense truth. It is grossly immoral to saddle more debt on top of future generations. You can't spend yourself into prosperity.
We need to CUT $1 Trillion in spending in 2013 and another $1 Trillion on top of that in 2014, simply to just balance the spending against the revenue (Taxpayer money that is. The gubmint doesn't create or generate one penny of revenure on its own).
Yes, immediately removing $2 trillion in spending over the next two years would not affect GDP at all. /sarc
And the moral obligation is that congress passed spending bills. Now the congress is refusing to pay for that spending that’s already been enacted with additional revenues and they are not going to allow the President to raise the money through the Treasury issuing additional bonds. That is immoral and pigheaded.
I don’t know why the President doesn’t take the point of view that by the mere act of passing the spending bills the congress has implicitly raised the debt ceiling by ordering the President to spend X amount of dollars but not providing the revenue to do it.
And the statement that the US government does not have money is ridiculous. The federal government can have as much money as it wants per its constitutional authority to print money.