Playing Politics

Bryan Wesbury, First Trust, chief economist reported on October 7, 2013 that the president and treasury secretary are playing politics. 'In October the U.S. will take in more than $200 billion in tax receipts and we only owe $25 billion in interest payments', Wesbury explains. 'We will never default on a bond the U.S. has outstanding... this idea of default is a scare tactic'."

A "government shutdown" is really a scare tactic, because 83% of the government is still operating, since the vast majority have been declared "essential".

Having said that "this idea of default is a scare tactic', Wesbury does state boldly that America does have a real problem, in that we have spent far more than we have taken in for decades. That is the real problem here, not government shutdown or raising the debt ceiling.

Wesbury then turns his attention to another scare term, "economic Armageddon".

"The market may be throwing a tantrum this morning but stocks are still up big for 2013. Missing the debt ceiling cut off would be Armageddon for politicians and those who count on the government on a monthly basis. That's exactly why Wesbury thinks President Obama will ultimately have to come to the table and negotiate a solution to the debt ceiling debate."

Ah, I see. The debt ceiling debate is really a politician's problem, not an economic one. Maybe that is why President Obama is signaling that he is ready to compromise on this issue.

On the Obamacare issue a reputable source said that his friend called a phone number to inquire as to whether he could save money by signing up for the Affordable Care Act vs. his private insurance and he received a nasty surprise. After giving the government employee his personal information, he discovered that he was going to pay $1,000 more per month for the "Affordable" Health Care insurance. At that point, he stated, "I'll just stay with my private health care plan. But, the government employee retorted, "You cannot do this now! As you gave me your personal information, I entered you into the plan. Now, you will be levied huge fines if you decide to stay with your private health plan."

In other words, going to the government website for ObamaCare or calling one on the phone numbers provided, is just a huge double-cross. If this story is true, it would be just the latest in a long line of instances where the truth behind a government program is really 100% opposite the public rhetoric.