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Date posted - October 9, 2013
Default! Politicians want to panic; yet, they know that federal revenues of $350 Billion per month would be more than enough to pay the $19B/mo. interest payments; the $67B/mo. mandatory payments to Social Security recipients; and, the $68B/mo. pension benefits. And, there is enough to pay $75B/mo. for Defense and $21B/mo. to administer these programs. The rest of government— education, transportation, welfare, healthcare, etc. are $111B/mo. of deficit spending and ought to be negotiable. If Republicans just cave-in, pass a Continuing Resolution and Raise the Debt Ceiling, spending will increase at an 8% rate and the Debt will reach $22 Trillion. This is unsustainable! The government already spends $1Trillion and the private sector is taxed $3Trillion to pay for healthcare. Obamacare regulations will suppress competition, innovation and profitability so that the economy will stagnate and the Debt will be unsustainable. Politically-connected businesses already get contracts and waivers; while high over-head business down-size or pay fees. Middle-class tax-paying full-time employees will become proletarian tax-dependent part-time workers. With everyone either working for or dependent on government the only people getting rich will be bond holders.