In speaking loudly but carrying a little stick, Speaker John Boehner and the D.C. establishment are incorrectly predicting armageddon like consequences if the debt ceiling is not raised and we go into default
The threat of default is nothing more than a political ruse for allowing the establishment elite in D.C. to continue spending us into oblivion, where in reality the Full Faith and Credit Act will enable spending cuts to be made while allowing our country to satisfy needed financial obligations -- thus taking the threat of default off the table.
Analysts from DC’s premiere think tanks have come out in support of the principles behind the Full Faith and Credit Act: Heritage here, CATO here, and AEI here.
The threat of default is nothing more than a political ruse for allowing the establishment elite in D.C. to continue spending us into oblivion, where in reality the Full Faith and Credit Act will enable spending cuts to be made while allowing our country to satisfy needed financial obligations -- thus taking the threat of default off the table.
Analysts from DC’s premiere think tanks have come out in support of the principles behind the Full Faith and Credit Act: Heritage here, CATO here, and AEI here.
Federal Reserve Chairman Ben Bernanke recently conceded in testimony before the House Budget Committee that the Full Faith and Credit Act would “reduce the risk with the debt limit.” The Foundry’s full account of Chairman Bernanke’s testimony is here.
From the RSC --
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