Senator Tom Coburn was on with CBS This Morning today and took a moment to dispel a rumor that he says “you hear on every newscast” that if we don’t raise the debt ceiling we will default. He says that’s not true, that we will go on paying our interest on the debt we’ve accumulated and that we’ll redeem current bonds and issue new bonds.
Here’s a video that was created a couple of years ago by Bankrupting America to help people understand the debt ceiling and it backs up what Coburn is saying:
Basically the media has just been parroting what Obama and his yes men have been saying over the last few weeks, that if we don’t raise the debt ceiling the country will default, without even fact-checking it. And this is setting up what Mark Levin has been predicting for several weeks, that Obama will uses this ‘crisis’ to raise the debt ceiling without Congress. And the media will have carried him on their shoulders to help him do it, despite the fact that it violates the Constitution.