RUSH: Fort Collins, Colorado. Hi, Chuck. You\u2019re up first on the EIB Network. Hello.<\/p>\n
CALLER: Hey, thank you, Rush. I have a question: If we can\u2019t service the debt on $14 trillion, how we gonna service the debt on $16 trillion?<\/p>\n
RUSH: Well, we can service the debt. How can the country sustain all of this spending, is what you mean — and we can\u2019t. Now, when you talk about servicing the debt, this is crucially important because servicing the debt is what we have to do to avoid defaulting. We can do that. We can pay the bonds as they come due, we can pay them as they roll over. We\u2019ve got the income to do that. Now, we don\u2019t have the money to fund Social Security and Medicare, Obamacare, or practically everything else we\u2019re doing, but that\u2019s not technically\/legally considered part of the debt. But we can\u2019t sustain this spending much at 16 or 14. We can\u2019t. We\u2019ve reached the brink now.<\/p>\n
CALLER: But their argument is we can\u2019t pay our bills when we have $14 trillion and so we have to raise the debt ceiling, but we can\u2019t pay it at 14, we can\u2019t pay it at 16.<\/p>\n
RUSH: Right.<\/p>\n
CALLER: So there\u2019s something wrong with that logic.<\/p>\n
RUSH: Well, not only that, they\u2019re telling us we must raise taxes. We\u2019ve gotta raise taxes $3 trillion dollars or $1 trillion or $2 trillion. We gotta raise taxes — and even after we do that we\u2019re not gonna be able to service the debt, or what you mean by when you say service the debt. Here\u2019s another way of looking at this. Here\u2019s Obama. If Obama were honest he would say, “I did not spend my first two years solving the crisis because I spent that time creating it.” What Obama wants you to believe is that he hasn\u2019t been president the last 2-1\/2 years. He was there, but it was so bad — what he inherited from George W. Bush was so bad — that he valiantly fought it! Oh, my God, the tough decisions he made? The challenging steps he took?<\/p>\n
Oh! He didn\u2019t know how bad it was. Nobody told him the truth. It was worse than anybody ever imagined, so it\u2019s gonna take a lot longer. The truth of the matter is Obama didn\u2019t spend the first two, 2-1\/2 years of his regime solving this crisis, folks, because he spent that time creating it. There\u2019s an honest question for you: If we raise taxes, does that mean we\u2019re not spending too much? It doesn\u2019t, does it? My point is: What does raising taxes have to do with the debt ceiling? What does raising taxes have to do with this crisis? Nothing! If we even double the taxes we\u2019re paying, does that mean we\u2019re not spending too much? All of a sudden, if we raise taxes, we can keep spending?<\/p>\n
Is that what they want us to believe? Is that really what they want you to believe? Are you really ready to commit to that in the name of compromise? You\u2019ll go along with a tax increase because that somehow means all of a sudden we\u2019re not spending too much? Don\u2019t fall for that. This is a full-fledged, 130% spending problem. We don\u2019t have a tax revenue problem, because we can\u2019t raise taxes enough to fix this. We can\u2019t. We could confiscate all the wealth in this country over $200,000 (you can only do that one time, by the way) and we don\u2019t even make a dent in what we owe. So that\u2019s not an option. The honest answer is we are spending too much even if we triple taxes on everybody.<\/p>\n
More tax money is not gonna solve it. In fact, it\u2019s not even gonna be applied to whatever is owed. It\u2019s just going to be redistributed in order to make everybody poorer.<\/p>\n","protected":false},"excerpt":{"rendered":"
RUSH: Fort Collins, Colorado. Hi, Chuck. You\u2019re up first on the EIB Network. Hello. CALLER: Hey, thank you, Rush. I have a question: If we can\u2019t service the debt on $14 trillion, how we gonna service the debt on $16 trillion? RUSH: Well, we can service the debt. How can the country sustain all of […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","ngg_post_thumbnail":0},"categories":[],"tags":[],"yoast_head":"\n