Coburn dispels media myth: We won’t default if we don’t raise the debt ceiling…

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.

Comment Policy: Please read our new comment policy before making a comment. In short, please be respectful of others and do not engage in personal attacks. Otherwise we will revoke your comment privileges.
  • Longiron

    The Feds take in about 200Billion a day. The interest is about 40 B. Even the lo info folks can do that math ?

    • stage9

      No….no, they can’t.

  • Laurel

    How many times do we have to say this before people get it?

    • Dukehoopsfan

      As long as folks are getting their news from the alphabet networks, John Stewart, and company unfortunatly.

      • Laurel

        sigh…sometimes I hate it when you are right. 😉

        • Dukehoopsfan

          It frustrates me as well when I am forced to face what sometimes seems to be stark reality.

          • Laurel

            Well…misery loves company. 🙂

  • sjmom

    The GOP is their own worse enemy; fold like hotcakes????

    • Dukehoopsfan

      It could be worse I suppose … up sh!t creek with a cheap suit. 😉

  • stage9

    Don’t expect an idiot liberal to understand basic economics. They spend their entire lives spending OTHER PEOPLE’S money because they’re too stupid to manage their OWN!

  • despicablelowlifes

    If the budgetaty machinery in the federal government is uninfluenced from outside action, the interest and principle payments will get paid, and we will not default. It is in the Constitution that this must be done, that the Country must pay it’s contractual debts.
    The only way we default is if someone proactivley prevents the interest and principle payments on the debt to not be paid.
    If Obama orders the payments not be paid, that is an impeachable offense. Period.

  • garyinaz66

    Oblamer and the senate wont pay veterans or reservist among other things, why should the democrat base still get paid?

    hah, outstanding in az. Obama trying to make it painful, az is returning the favor.
    PHOENIX (AP) — Arizona’s decision to withhold welfare checks because of the federal government shutdown appears to make it the only state to cut off funding for the very poor because of the budget crisis, according to policy experts.

    The state stopped payments averaging $207 a week to 5,200 families eligible for Temporary Assistance for Needy Families after Tuesday’s government shutdown. TANF provides cash assistance and other support to low-income children and their parents.

    The Arizona Republic reported the decision came despite assurances from federal officials that states would be reimbursed for any payments they made for the federal program. It also comes as the state sits on a $450 million rainy day fund.

    Democratic lawmakers are now urging Republican Gov. Jan Brewer to reverse the decision, even if it means calling a special legislative session to get the authority to tap the fund.
    The rainy-day fund is for emergencies, and this is an emergency,” said Senate Minority Leader Leah Landrum Taylor, D-Phoenix. “This is beyond hurting the families. … Families are relying upon this.”

    Landrum Taylor said Department of Economic Security Director Clarence Carter told her he had no funds available to make the welfare payments, which amount to about $1 million a week for the 5,200 families affected.

    DES and Brewer’s office did not respond to telephone calls and emails from the Republic seeking comment Thursday and Friday. The Associated Press also left a message for a Brewer spokesman Sunday.

    The cuts essentially mean very low income families who were approved for the aid don’t get it, with little warning, said LaDonna Pavetti, vice president for family income support at the Center on Budget and Policy Priorities in Washington, D.C.

    Pavetti and Elizabeth Lower-Basch, a senior policy analyst at the Center for Law and Social Policy in Washington, said they aren’t aware of any other states that have failed to make welfare payments because of the shutdown.

    Rep. Debbie McCune Davis, D-Phoenix, said DES officials indicated “there isn’t money that they can free up to cover this.”

    “So the ball is in the governor’s court. She would either need to release emergency funds or call the Legislature back into session,” McCune Davis said. “These are resources that are going to the most needy families in our state. They are families with children who are very unlikely to have any cash reserves to fall back on.”

    DES last week also told vendors there would be slight delays in payments because of the shutdown. The memo said the agency was analyzing the impact of the shutdown on its federally funded programs.

    In an interoffice bulletin to supervisors, the DES listed the payment programs that were placed on hold Wednesday, including cash assistance, refugee assistance and TANF funds for the Hopi, Pascua Yaqui, Salt River Pima-Maricopa and San Carlos Apache tribes.

  • doorsxp

    Sorry, but Coburn has lost my support by voting for cloture. He’s too willing to surrender and just accept Obamacare. He sounds like someone who has already accepted defeat with his “fold like hotcakes” remarks, and he’s way too comfortable talking with the libturd media ON THEIR TERMS. He’s worried about fraud loopholes in Obamacare, which implicitly concedes the fight against Obamacare in general.

    • Tom of the Missouri

      Yeah, and Coburn waits till now to explain the Obama default threat lie. It might have been very helpful to Cruz a few weeks ago during his filibuster when everyone including lots of Republican RHINOS were attacking cruz because of the fictional default risk. Lots of us, including Cruz understood this long ago. His RHINO opponets were using it to explain the main reason why Cruz’s defund it strategy would never work and why it was so risky. I won’t forget Coburn’s cowardice either on that whole affair including his cloture vote. Ditto for my own Senator Blunt. I wonder where Senator “Cruz is a Wako” McShaime is this week now that everyone is finally getting brave enough to get on the don’t fund it bandwagon that Cruz bravely blazed the trail for. McShaime was also mysteriously absent this weeks Sunday shows, too. I guess he is sitting home coming up with other ways to attack conservatives and get us involved in more jihadi wars.

    • Roger Westbrook

      This is a politician from my state, the great state of Oklahoma……and we are most ashamed of him. It will be corrected, soon. We apologize to those who have been exposed to this….this…..well you know what I mean.

  • kong1967

    It may violate the Constitution, but when the Senate Democrats stand in the way of enforcing the Constitution I fail to see a remedy to force the administration to obey the law. Obama could tear the Constitution in half today and the media and the Senate would not hold him accountable. Republicans can only send bills out the door to the Senate, at which point Reid will sit on them and they won’t even be voted on. Even if we impeached Obama for breaking the law, Senate Democrats will not convict no matter what he does.

    • NY4P

      But if we take back the Senate in 2014, we most certainly can impeach.

      • kong1967

        Agreed, but will they?

  • Sentinel

    I know what you’re thinking. “Did he fire six shots or only five?” Well, to tell you the truth, in all this excitement I kind of lost track myself. But being as this is a .44 Magnum, the most powerful handgun in the world, and would blow your head clean off, you’ve got to ask yourself one question: “Do I feel lucky?” Well, do ya, punk?

    Obama has lost count of the number of times he’s violated his oath, has wiped his butt with our Constitution, and has treasonously violated U.S. law. But don’t worry you lying phony, America is keeping track and we know that lucky or not, your day is coming and you will get caught and charged for all your crimes. And Lord willing, you will be brought to justice.

    • PicklePlants

      Haha – great quote – I often use it myself. Honestly, I am dumbfounded at the lack of constraints put on the president. If he wants a power, he just grabs it, and no one says a word.

      • Sentinel

        Yeah, he seems like he’s Teflon… but there was a small chink in his armor when the NSA scandal broke… so if he bleeds, he can be taken down (figuratively speaking). Justice will catch up to him some day.

    • DebbyX

      You’ve got that memorized don’t you?!

      • Sentinel

        I had most of it memorized – great movie! However, I lifted the quote from the Internet for accuracy for this forum… you all are sticklers for accuracy, so I wanted to oblige. Thanks for the compliment.

        • DebbyX

          You are more than welcome.

  • OldmanRick

    The only time the brat ever lied was when he opened his mouth. That pretty much says it all.

  • Stop the lower video at 1:09.

    Ron Burgundy
    Staff Writer

  • DebbyX

    Right, we’re gonna hafta leave it there before they have to answer HIS question!
    There they go again.

  • Twinky019

    Just remember what he did to Bush Admin for going into a Govt Approved War for WMD then venues changed leaders changed and TRIALS FOR (WAR) CRIMES pondered, considered, threatened and nearly occurred & What Goes Around Comes Around but when it lands, history will not be so forgiving. Current POTUS PROMISED MORE THAN HIS EASY GRIN, BIG EARS AND FAST EMPTY WORDS, mistaken as facts and promises, DELIVERED! Unfortunately, history is unforgiving when video backs up the words and Fraud, deceit, false statements, failure, and so much more will his gangster to ranks below peer, raising status of Jimmy Carter! Finally.

  • Twinky019

    I couldnt edit!

    1). When video fails to back up the lies!
    2). History will pull POTUS down as his words did not match his deeds.
    3). Daily TV appearance allows lots of tempting prosecution consideration after the fact when statements are made, televised and later invalidated as criminal with intent and being an atty, intent is the magic word or definition. To deceive is different than to deceive w/intent, ie if you want to to keep your insurance you can; if you want to keep your doctor, you can. Intent to deceive is validated via video.
    4). Constitutional Liability for lack of education.

  • Twinky019

    The community organizer has revealed his racist , biased, petty and ignorant business techniques. I believe he is a drug user, has others do due diligence, is lazy but affable and connected, to Soros, and bought LMSM by employing spouse of journalists for complicity. Deception 101 w/o press thus complicity and ignorant, shallow and greedy career politicians were easy to gain complicity for carrying out destruction or Transformation of America!

  • Twinky019

    Hope and Change with an Obama phone thrown in for non educated.

    Immigration is Fed Responsibility yet he sues States who have more rights than Feds!

    Weapons sold to Mexico; Benghazi; video produced in USA, known false yet quoted to press & world as “Cause” for attack and deaths of first US Ambassador in 30 yrs; Obamacare; more bs in re to constitutional degradation!

  • Grumpa37

    I sure hope Senator Coburn is right, but it seems to me that Obama might be able to direct Treasury Secretary Jack Lew to prioritize all potential expenditures, not to avoid refusing to pay our bills, but to squander all available funds and “necessitate” the printing of uncounted trillions of worthless U S paper: “Presto! Default!” Dear Lord, Thy will be done.

  • Liam58

    Good job Mr. Coburn!