House Republicans may be the country’s last hope to avoid financial ruin
Conservatives need to stand strong against Obama.
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The federal government will default on its debt only if President Obama wills it. House Republicans, by refusing to raise the debt ceiling until they obtain budget reforms, may be the country’s last hope to avoid a financial ruin.
Each month, the government collects $250 billion in taxes, and pays $23 billion in interest to public bondholders. If Washington can’t borrow more money, it will not be able to spend all that it has planned. It comes down to who gets paid and what doesn’t get bought.
Americans are not deadbeats. Families without enough money to do all they like pay their mortgages and credit cards, and cut back elsewhere. So must Washington.