Result of failure to raise debt limit: Balanced Budget, saved dollar.

 COUNTRY AND DEBT SERVICE CAN SURVIVE NOT RAISING DEBT LIMIT

IT WOULD BE POSITIVE STEP IN SAVING THE COUNTRY

There is now the usual propaganda that the debt limit must be raised or there will be a default on the debt. This is just so much propaganda and hysteria to pressure congress to give the administration another blank check to spend the country into ruin. Freezing the debt would be a positive step in setting the country on a better course and to shore up the credibility of the dollar.

The service of the debt is approximately 5% of the present budget, it will grow dramatically in the future with higher interest rates on all new debt. All new debt will require higher debt service and damage the value of the dollar. A responsible congress should be able to find that 5 % by eliminating a few of the unnecessary programs and spending that is likely just greasing palms both here and abroad. Just what has spent on Ukraine would servie 1/3 of the debt for this year.

I expect if a panel of objective citizens of this country could go over the budget they could find 5% and more to eliminate. This budget is just exploding with money for all its vote buying and buying of allies around the world. 

We must remember that the debt is a gravy train for many, just the commission paid to big banks on selling bonds and debt is many millions of dollars. all the borrowed money is handed out to some some special interest with their hand out.

Of course we will hear the usual hysteria that it will destroy social security and medicare even though much of the money paid into these programs is being lent to the government. These programs still need to be taken out of the grasp of the politicians. They have already squandered much of the surplus paid by taxpayers for years.

Responsible politicians would now freeze new debt and pledge to pay down the debt by 1 % a year. It would be just a small step in a possible restoration of the economic health of the nation.