Cristy Li

(Politico) What does a president give to himself who doesn’t believe that we have a spending problem–the authority to raise his own credit limit and spend as much money as he wants.

White House Press Secy Jay Carney today during his daily press briefing would not rule out the possibility that the Obama Administration won’t mint a $1 Trillion coin to keep its spending spree going.

In 2011, Kurt Brouwer, Chairman of Brouwer & Janachowski a financial advisory firm in Northern California wrote in WSJ/MarketWatch that the U.S. won’t default on its debt obligations if Congress doesn’t raise the “debt limit” despite all of the hyperbole by the dinosaur media and loony liberal lefties–there is sufficient receipts for the government to continue making interest payments, it will just have to prioritize spending if the debt ceiling isn’t raised.

Related: Defaults, Debt Ceilings & the 14th Amendment –CATO

This entry was posted on Wednesday, January 9th, 2013 at 11:22 pm and is filed under Barack Obama, Budget Crisis, Economy, Obama Administration. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.