No Need to Raise the Debt Ceiling: The US Won’t Default

[BarryDonegan]

President Obama has alleged that a failure to raise the debt limit would result in the US defaulting on its debt obligations, thus crushing the nation’s credit rating and laying waste to the world economy. However, as Jeffrey Dorfman at Forbes pointed out, the federal government brings in sufficient income to cover interest on the national debt, along with a vast array of programs and initiatives including Social Security, Medicare, Medicaid, veterans benefits, environmental conservation, transportation, law enforcement, food stamps, and more, with additional funds left over to run the military at 2003 levels. Why are politicians misleading the public and the markets by saying that the US would default on its debts if the debt ceiling vote were to fail?

http://silverunderground.com/2013/10/no-need-to-raise-debt-ceiling-us-wont-default/