The 6 Biggest Lies About the U.S. Debt ( I FOUND 10)
“There is one simple truth about the discussion of the looming U.S. debt crisis: it is largely a compendium of half-truths, distortions, myths and outright lies.”
This is my take on the article… I found the six quoted below and then some more…. read the entire article and see what you come up with…
*1. For example, is it true that the U.S. debt is unsustainable, which is spurring the budget-cutting fever? No and here’s why…
*2. Or what about hysterical headlines like “U.S. Debt Default Looms” (
courtesy of NPR) unless Democrats and Republicans agree to raise the debt ceiling?
*3. One blatant lie is that Republicans and Democrats, the Congress and the White House are serious about reining in budget deficits to reduce the long-term debt. They are not.
*4. If you really believe shrinking the debt is an imperative, then there are easier ways to do it then stealing grandma’s meds
*5. Of course, the stand-off is based on another lie: that Congress and Obama administration can enforce cuts over a 10-year period. The budget process is an annual exercise.
*6. “We are in recovery.” So says Ben Bernanke –
since 2009 no less. Obama has been saying the same since 2010, while hedging that it is “
painfully slow.” Really?
These are the ones I found in the article:
*7. We are being led to think the wisest course is repeating the major mistake of the Great Depression – enforcing austerity in a deep economic funk.
*8. Obama’s burnt offering – will nick a miniscule 3 percent off the national debt by 2020, while the suffering will be enormous. But we must do it to appease the markets.
**9. But, it [S&P] warned, any “credible” agreement “would require support from leaders of both political parties.”
**10. S&P knew … By saying both parties needed to sign on to an agreement to be credible, … the Republican agenda of strangling the last of social welfare would triumph.
And by issuing the statement in the heat of negotiations, it threw its lot in with the Tea Party mob. [KOCH influence]
(** Re-paragraphing, numbering [inserts] underlining, are all my addition.)
