Obama lies about the debt limit affecting our credit rating Congressman Steve Stockman Representing the 36th District October 10, 2013 Dear patriot, President Obama is once again misleading people in a sad attempt to create a panic he hopes will be blamed on his opponents. Moodys has flatly stated our credit rating is not tied to the debt limit and not raising it does not risk default. The government would continue to pay interest and principal on its debt even in the event that the debt limit is not raised, leaving its creditworthiness intact,” Moody’s Investor Services reports today. “The debt limit restricts government expenditures to the amount of its incoming revenues; it does not prohibit the government from servicing its debt. There is no direct connection between the debt limit (actually the exhaustion of the Treasury’s extraordinary measures to raise funds) and a default, writes Moody’s. This is the third time this year Obama has tried to rule by creating false panic. First it was sequestration, then it was his current shutdown and now hes making false claims about the debt ceiling and default. These cheap scare tactics may work in Chicago street organizing but it is no way to lead a nation. They certainly havent created prosperity. Americans want Obama end to his partisan theatrics. It’s time for Democrats to reopen the government and begin to talk with Americans about getting our debt and spending under control. God bless, Congressman Steve Stockman
Posted on: Tue, 15 Oct 2013 01:34:16 +0000
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