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Pay the Debt
Date posted - October 14, 2013
President Obama has rejected all compromise proposals offered by the House Republicans. He wants an 8% annual increase in the rate of government spending and no changes in Obamacare. To meet his demands Congress will have to raise the Debt Limit more than $1 Trillion every year. Obamacare is a factor because it substitutes bureaucratic calculation for consumer values in decision-making about how $16 Trillion dollars of healthcare funds are spent. Politically-connected businesses already get contracts and waivers; while Obamacare regulations make other businesses less competitive or profitable. Government will have to pay for healthcare, adding $ Trillions to the Debt. We will have an inflationary yet stagnant economy that will not generate enough tax revenues to fund government operations, benefits or debt payments. We will go into default. Everyone who has sworn an oath to uphold the Constitution has a duty to maintain the “full faith and credit” of the U.S. government. Every official serves the Constitution, not the president. The $19 Billion in interest and the $67 Billion in Social Security and $68 Billion in pensions benefits can easily be paid with the $350 Billion in revenues the government takes in each month. Require all office holders to fulfill their Constitutional duty to pay government’s creditors. If the Democrats vote against paying the debt and beneficiaries take the issue to the Supreme Court.