Thoughts on article

Miscellaneous Current Events
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Hey, so I just started writing for a new website in Wisconsin. I would appreciate all thoughts and comments.

http://milwaukeestory.com/index.php/2011/03/01/deficit-hawks-to-the-rescue-as-debt-ceiling-vote-looms/

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“The most significant and immediate event that would occur from not raising the debt ceiling (essentially defaulting)”

If the debt ceiling is not increased, the Treasury can prioritize interest and debt payment to avoid a default and essentially put the government on a stringent pay-as-you-go basis. Would that involve extreme cuts in government spending? Certainly. But it could be done, if it had to.

“would be the failure to send out the first round of Social Security checks.”

Ultimately, the law and history suggest that it’s likely that checks will go out, though it’s not a certainty. On balance, we rate Obama’s statement Barely True.

I have criticized PolitiFact in the past, but in this case they appear correct.

“Some economists believe once”

Which economists?

“Now, I do not believe the United States will ever find itself in a situation such as Egypt and Libya, but remember both these countries have had massive riots due to rising food prices.”

The fact there was a Tunisian revolution inspired Egyptian protestors and a domino effect began which is ongoing in the Middle East. According to the 2010–2011 Middle East and North Africa protests article on Wikipedia: Numerous factors have led to the protests, including accusations of government corruption, dictatorship, human rights violations, unemployment, and extreme poverty, coupled with a large percentage of youth within the population. Increasing food prices and rates of famine globally have also been a major reason, involving threats to food security worldwide and prices approaching levels seen during the 2007–2008 world food price crisis.

“What a huge difference a few years makes.”

Obama could respond his comment was made during a prosperous time when government spending is unneeded for economic growth, but this changes during a recession where government inaction can turn a recession into a depression. He is wrong, but that is his logic. Quoting him to make him appear to be an unjustified flip-flopper is a misunderstanding of his flawed economic beliefs.