RAISING DEBT CEILING WILL HASTEN U.S. DESTRUCTION, SAY ECONOMISTS
By NWV News writer Jim Kouri
February 14, 2011
While progressive Democrats and RINOs — Republicans In Name Only — in both houses of the U.S. Congress continue to push the nation closer to economic ruin, Obama administration members and the majority in the Democratic Party are telling Americans that the U.S. debt limit must be raised.
If the debt ceiling is not raised soon, the U.S. monetary system will collapse and Americans will face catastrophes they never imagined could exist, according to Democrats in the White House, the U.S. Senate and the House of Representatives.
Yet, polls show an overwhelming number of Americans don’t want to see the debt limit or ceiling raised. A Reuters/IPSOS poll reveals a surprising statistic: a whopping 71% of Americans are against raising the ceiling.
In a recent letter he wrote to the U.S. Congress, Treasury Secretary Timothy Geithner said: “Failure to raise the limit would precipitate a default by the United States default would effectively impose a significant and long-lasting tax on all Americans and all American businesses and could lead to the loss of millions of American jobs.”