LESSONS IN LOGIC: Obama Lies About Government Defaulting

Once again, this is not meant to attack a political Party.  Nor is it meant to be unnecessarily inflammatory.  It’s just that I try to use language accurately, and the term for when someone deliberately tells a falsehood – especially to achieve a goal or advance an agenda – is called a lie.  And, in this case, the President is lying when he says that the Federal Government is in danger of defaulting on its debts. Here’ I’ll show you the proof.

First, understand that Social Security, Medicare and Medicaid and all these social spending programs are not debts.  They are entitlements.  As such, they can be ended.  We may not like this, but this is a fact.  It is not a fact because I say so, but because – by definition – they are entitlements and entitlements are not debts.  The same thing applies to Obamacare.  They are not debts because no one lent us money to pay for them.  They are entitlements because the government said they would give people money under certain conditions.  And no, you didn’t pay into them like a retirement program.  The taxes you pay thinking they go to these programs go into the general revenue.  This is why people who understand these programs try to explain they are Ponzi schemes and wealth redistribution – nothing more.

So, now that this is behind us, let’s look at how much the Federal government has to pay in interest on our real debts:

Interest Expense on the Debt Outstanding

Interest Expense Fiscal Year 2013

September $19,843,542,012.01
August $25,487,831,947.93
July $25,076,777,459.95
June $93,031,790,187.97
May $24,378,480,861.09
April $35,951,751,963.63
March $23,472,400,737.30
February $16,901,310,565.17
January $17,816,590,831.57
December $95,736,594,801.52
November $25,068,968,472.99
October $12,922,741,407.27

Fiscal Year Total

$415,688,781,248.40

Next, let’s look at how much the Federal Government collects in actual tax dollars – not borrows, collects:

Estimated Government Revenue for FY2013

Total Government Revenue
in the United States
Fiscal Year 2014  

  Federal Direct Revenue    

$3.0 trillion 

  State Direct Revenue    

$1.7 trillion 

  Local Direct Reveue    

$1.2 trillion 

  Total Revenue    

$5.9 trillion

Now, let’s do some simple math.  The Federal Government expects to bring in $3.0 TRILLION dollars this year in cold, hard cash, but it has to pay out $415,688,781,248.40 in interest or it will default.  That means we can pay our debts and we will still have $2.58 TRILLION dollars left to run the constitutionally mandated functions of the Federal Government.

THIS MEANS OBAMA IS LYING – AND HE KNOWS IT!

Now, let’s just say we all hate the Republicans.  Fine, we hate them – because I do.  Well, not ‘hate,’ but I do not trust the Republican Party – especially their leadership.  They are Progressives.  HOWEVER, why would we trust, support or even listen to a man who we know is lying to us.  Who has proven he will lie to us whenever it suits his purposes.  Obama will lie even if it means he endangers little children, keeps veterans from visiting war monuments and costs people their livelihoods when they have nothing to do with government spending.  Is that the person you trust more than the Republicans?

The truth is we shouldn’t trust either Party anymore.  The only one we should trust and look to for help right now is God – because He is the only one who can fix the mess we’ve all made.

One response to “LESSONS IN LOGIC: Obama Lies About Government Defaulting

  1. Pingback: Obama Lies About Risk Of Default | The Rio Norte Line

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