For some time now, our President has been trying to frighten the public by saying things like this:
“I cannot guarantee that those [social Security] checks go out on August 3rd, if we haven’t resolved this issue. Because there may simply not be the money in the coffers to do it.” (7/12/11)
Later that night, a perceptive Dick Morris told Sean Hannity the following:
“When he says that we’re facing a disaster if there is a default, I hate to disrespect the president, but he’s lying. He now doesn’t claim that we’re going to default on our debt. He says we’ll default on our obligations. Well folks, there’s enough money to pay the debt, the social security, Medicare, military pay and a hundred other things. The obligations he’s talking about are the bureaucrats in the labor department and the commerce department and the agriculture dept and the state dept. And those obligations are not the obligations we really care about. The president [is using] total fear tactics and it’s a lie. A big lie.”
So now we’re defining “default” as the failure to pay bureaucrats on time? Try that definition on the Wall Street crowd and they’ll laugh in your face.