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by
Bryan Preston

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October 8, 2013 - 12:29 pm

President Barack Obama just finished an extended press avail at the White House, during which members of the press asked very few questions that challenged any of his positions. When he was asked about the lack of progress on debt ceiling discussions, the president suggested that any hint of a default could impact the financial markets.

REPORTER: “You laid out the economic consequences of the default, but if we were to get to that point, would you prioritize and pay bond holders first to maintain [inaudible] — and how would you go ahead and make that determination?”

OBAMA: :”I’m going to continue to be very hopeful that Congress does not put us in that position. And I think if people understand what the consequences are, they will set that potential scenario aside. I do know there have been some who have said that if we just pay bond holders, just pay people who bought Treasury bills, that we really won’t be in default because those interest payments will be made and to them what i have to remind them is, we have a lot of other obligations, not just people who pay Treasury bills. We have senior citizens counting on their Social Security arriving on time. We have veterans who are disabled who are counting on their benefits. We have companies who are doing business for our government and for our military that have payrolls that they have to meet. And if they do get not get paid on time, they may have to layoff workers. All of those folks are potentially affected if we are not able to pay all of our bills on time. What’s also true if the markets are seeing we’re not paying all of our bills on time, that will affect our creditworthiness, even if some people are being paid on time. (emphasis added)

It’s ironic for the president to mention companies that work with and depend on the federal government meeting their obligations. Companies like Recreation Resource Management work with the federal government to manage hundreds of parks on federal land. President Obama has used the shutdown to close those parks, throwing hundreds of workers out of their jobs and jeopardizing the survival of those companies.

More: 

President Obama Thinks Senator Obama was Nuts. How Come No One in the WH Press Asked Him About That?

Bryan Preston has been a leading conservative blogger and opinionator since founding his first blog in 2001. Bryan is a military veteran, worked for NASA, was a founding blogger and producer at Hot Air, was producer of the Laura Ingraham Show and, most recently before joining PJM, was Communications Director of the Republican Party of Texas.

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Top Rated Comments   
God. I watched part of the LightBringer's speech but I just got too nauseated to watch the whole thing. I really tuned out during the QA portion by the press whose questions seemed to be variants of "gosh Mr. President, can you explain how it is that you can be so wonderful?"

If I could have asked one question it would have been "Mr. President, in light of the fact of the terrible consequences that will fall if the debt ceiling is not raised, how is it that not repealing the ACA in order to avoid that would be better for the American people? What about the ACA is more important than avoiding default?"
46 weeks ago
46 weeks ago Link To Comment
All Comments   (9)
All Comments   (9)
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as Debbie said I'm impressed that someone able to get paid $4020 in four weeks on the internet.. .......:>WWW.JOBS60.ℂOM
46 weeks ago
46 weeks ago Link To Comment
If a dog bites a man that is not news, but if a man bites a go now that's news. A president can rattle the markets but the markets can chew a president's a$$.

The flea has climbed Olympus and changed its name to Zeus but it is still a flea (while the mountain of today is the same one of yesterday, and shall remain Olympus for ages to come.)
46 weeks ago
46 weeks ago Link To Comment
BARACK OBAMA MADE IT PERFECTLY CLEAR:

"The fate of the world is in John Boehner's hands."

And I thought Obama was America's most powerful man.
46 weeks ago
46 weeks ago Link To Comment
Obama and his ilk are EVIL...they are not concerned, patriotic Americans with a different point of view. They are evil scum; anti-American marxist/socialist/communist revolutionaries who have no moral ambiguity preventing them from harassing and attacking innocent American citizens to move "forward" a political agenda of fear and intimidation. I have never been more disgusted with my government than I am now. The "republican" fellow travelers who cannot find the personal fortitude to oppose this "fundamental transformation" of our beloved nation are just as much to blame as our domestic enemies....a pox on them all. I hope and pray Boehner does not let us down in the end, again.

Remember BENGHAZI!
46 weeks ago
46 weeks ago Link To Comment
Majority Leader Harry Reid Objects to Funding the VA. Again.

http://www.youtube.com/watch?v=5jCETPWASUs
46 weeks ago
46 weeks ago Link To Comment
46 weeks ago
46 weeks ago Link To Comment
God. I watched part of the LightBringer's speech but I just got too nauseated to watch the whole thing. I really tuned out during the QA portion by the press whose questions seemed to be variants of "gosh Mr. President, can you explain how it is that you can be so wonderful?"

If I could have asked one question it would have been "Mr. President, in light of the fact of the terrible consequences that will fall if the debt ceiling is not raised, how is it that not repealing the ACA in order to avoid that would be better for the American people? What about the ACA is more important than avoiding default?"
46 weeks ago
46 weeks ago Link To Comment
"if the markets are seeing we’re not paying all of our bills on time, that will affect our creditworthiness"

But maxing out the credit card again will not? BTW, DJIA is down 160 today. Naz down 70. Keep talking...
46 weeks ago
46 weeks ago Link To Comment
Boehner should call Obama's bluff. He should agree to vote on the clean CR followed by a vote on a CR minus Obamacare under the condition that whatever passes the House, the Senate also has to pass it and Obama has to sign it.
46 weeks ago
46 weeks ago Link To Comment
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