Now we’re being given the Nuclear metaphors. Current Yahoo! headline: Obama: Default like ‘nuclear bomb’ hitting economy.
President Barack Obama warned Tuesday that Congress would be dropping the equivalent of an economic “nuclear bomb” on the country if it failed to raise the debt ceiling, triggering a first-of-its-kind default…
Obama also described the consequences of a default as dire, quoting economists as saying it would be “insane” or “catastrophic,” spreading “chaos”…
But, as I explained yesterday, even if the debt ceiling isn’t raised, a default is entirely optional. It would be President Obama’s choice. By denying the choice, Obama effectively promises to deliver a default. That is, he threatens us with it (while pretending not to).
In the let’s-break-the-irony-meter department, we also have this:
Obama also pressed Republicans to reopen the government without conditions…
But Obama is the one pressing for conditions: He demands that the Republicans give away every bit of their negotiating leverage, before he’ll sit down with them.
I haven’t seen a full review of Obama’s press conference today, but I’ll bet lunch money that he also couldn’t resist repeating his outright lies about the debt ceiling (that raising it somehow doesn’t increase our debt, or cost us anything). And about future spending (that future spending is somehow all-or-nothing and unchangeable, like “paying our bills” for past spending).
UPDATE: They’ve added to the Yahoo! article.
“I’m not budging,” said the president…
Boehner reiterated his call for the president to negotiate…“The long and the short of it is, there’s going to be a negotiation here. We can’t raise the debt ceiling without doing something about what’s driving us to borrow more money and live beyond our means,” Boehner said. “The president’s position that we’re not going to sit down and talk to you unless you surrender is just not sustainable. It’s not our system of government.”
Good on Boehner!
UPDATE: Transcript here. Obama did keep up his lies about his profligate spending somehow being the equivalent of “paying bills”, and his debt -ceiling- increase somehow not meaning a debt increase. Here, he twists them together:
…it’s called raising the debt ceiling, I think a lot of Americans think it’s raising our debt. It is not raising our debt. This does not add a dime to our debt. It simply says you pay for what Congress has already authorized America to purchase…Whatever it is that Congress has already authorized, what this does is make sure that we can pay those bills.
Lie, lie, lie.
- The whole reason Obama wants a debt ceiling increase is precisely so he can add to our debt.
- He will add A LOT of debt (hundreds of billions) within days of the ceiling increase, costing taxpayers a lot of money.
- Budgets, made by Congress or otherwise, are not “bills to be paid”. They’re future spending plans. It would be right to under-spend our budget from this point forward, and we badly need to.