What bills would you pay?
The other day, a Republican spokesperson, I think it was Michele Bachmann was asked what bills the Republicans were saying should not be paid if the debt ceiling is not extended. She determinedly refused to answer. But, if the Republicans are going to actually refuse to lift the ceiling, they should be willing to say what they believe should be done. So here is your chance. To help you out, here is one possibility that jj put forward in a comment a few days ago:
“August federal government revenues are expected to be $172.4 billion,and
spending will amount to $306.7 billion. The shortfall is, obviously, $134
billion. (Annualized, this shortfall represents a shortfall of $1.6 trillion –
right in line with the last two years.) So, a straightforward look at what
things cost Everything above the line we can pay – no problem, no default,
nothing. We’ll be a couple hundred million short. Below the line, we can’t pay
for. (The far right column, if I can make columns here, is the running
total):
Inflows: $172.4 billion
Outflows: $306.7 billion
August bills
Interest on Treasury Securities 29.0 b
Soc-Sec Benefits 49.2 b 78.2 b
Medicare/Medicaid 50.0 b 128.2 b
Defense/Vendor Payments 31.7 b 159.9 b
Unemployment Insurance benefits 12.8 b 172.7 b
====================================================================
Military Active Duty Pay 2.9 b 175.6 b
Veterans Affairs programs 2.9 b 178.5 b
IRS Refunds 3.9 b 182.4 b
Food/Nutrition Svces + TANF 9.3 b 191.7 b
Federal Salaries and Benefits 14.2 b 205.9 b
SBA 0.3 b 206.2 b
Education boondoggle BS 20.2 b 226.4 b
HUD 6.7 b 233.1 b
Other Assorted Bull**** 72.9 b 306.7 b
There it is, the whole of the federal budget. Everything above
the line can be paid, and there will be no default. The top line, Interest on
Treasury Securities all by itself insures that there will be no default. The
question for Obama to decide is, how about the rest of it?”
Well, the question may be for Obama, but let’s give him some advice since we (conservatives) are the ones forcing him to make these choices by refusing to raise the debt limit. What would you pay and what would you not pay?