The Real Threat of the Debt Ceiling

The days are counting down and the dollars are counting up to the point that the Treasury of the United States of America will no longer be able to borrow money.  Some "experts" (perhaps expert politicians) are claiming that if this point is reached, the US will default on its debts.  The Constitution requires the US to pay its debts, and there are more than sufficient revenues to do this, so a default is pure fantasy.  What is not fantasy, is that the US will have to pick-and-choose which programs continue to operate, and the ones in charge of doing the choosing are President Obama and the federal courts.  The State of Minnesota provides us a glimpse into the bleak future of an Obama led apocalypse. Minnesota makes a great parallel to the current federal situation.  Both Congress and the Minnesota legislature are led by Republicans, who want to shrink the size and budget of government, while holding ridiculously high taxes from going higher.  President...(Read Full Article)