By: M Turner 10/21/2013
Now that the distracting aside concerning the federal “default” has come to a temporary close, we can look at the matter somewhat more objectively. The government was never in danger of defaulting. Conversely, the government still had adequate incoming revenue to meet current obligations and would have been prevented from incurring new ones without making cuts. And herein lies the rub since that pesky debt ceiling was looming large at the same time. Through the chorus of politicians screaming about the dishonor or disaster should we dare “default”, its easy to forget to whom this debt is really owed.
The majority of the “debt” is owed to the multinational mega banks, their subsidiary corporations, and contractors; and their employees… the politicians. Therefore, the employees of the banks… A.k.a politicians in both parties will be sure to make sure that these banks get paid. Hence the reason for the “sky is falling mentality” should their masters’ payment be delayed. The whole thing isn’t about Republicans or Democrats or even so much the Affordable Care Act. Look how easily the Republicans folded up and went home when the debt ceiling dead line approached. At that point, they folded… not that they ever intended to not fold. And in the end, the offshore banks will continue to be paid our money with interest and their political servants will ensure we, the general public belonging to both parties, continue to cough up our money to feed the beast, of which they are a part.
And hey, if you wake up slave, they just appropriated $80 million to federal security forces to make sure you get the point. We wouldn’t want to go the way of Iceland or anything… right?
Finally, remember the threats being made just prior to the supposed default… cuts to your social security, medicare, veterans benefits, and food stamp programs. Do you remember threats of any cuts to the “repayment” of the bankers (even though we “bailed” them out)? That’s right.