A bombshell new congressional report has caught President Obama in a very disturbing lie.
According to Western Journalism, the report reveals Obama’s administration lied about the government’s ability to prioritize spending to avert a potential credit default during the debt limit negotiations in 2011 and 2013, at which time they said such a contingency would be “unthinkable.”
Obama’s government warned that if the debt ceiling was not raised immediately, the treasury would not be able to pay Social Security recipients and veterans benefits and the United States would be forced to default to it’s creditors, which would destroy both the faith and credit of the federal government.
At the time, Republicans argued that the White House could prioritize revenues, which continuously go into the Treasury, ensuring that those eventualities would not happen while the two sides reached an agreement. The GOP then accused Obama of trying to create a crisis in the eyes of the public, which would force the Republican-controlled House to back down and accept Obama’s spending agenda.
This new report by the House Financial Services Committee proves that the GOP was right all along. The Daily Caller reported that it “states that the Obama administration crafted actual contingency plans to pay for Social Security and veterans benefits, as well as principal and interest on the national debt if the government was temporarily unable to borrow more money. The Committee concludes that over the last two years the Treasury Department has ‘obstructed’ congressional efforts to get to the bottom of the administration’s real-time policy during the two showdowns.”
Back in 2013, when negotiations were reaching a fevered pitch, Treasury Secretary Jack Lew appeared before the Senate Finance Committee, and Sen. Pat Toomey, R-Pa., pressed him on Obama’s plan to pay America’s creditors until a spending agreement was reached.
“[A]s the Secretary of the Treasury, are you prepared to assure us, but, more importantly, the millions of Americans who are investors in U.S. Treasury securities and the entire American economy,that under no circumstances will you permit a missed payment on a U.S. Treasury security obligation?” the senator asked.
“Senator, the only way to make sure we could pay all of our obligations is for Congress to act and raise the debt limit. No President has ever had to decide whether to pay some bills and not others,” the secretary responded.
The new congressional report stated, “Treasury has sought to withhold from Congress and the American people information about the Administration’s contingency plans, for the purpose of pressuring Congress to acquiesce to the Administration’s position that any increase in the debt ceiling not be accompanied by spending constraints.”
What do you think about Obama’s latest lie? Let us know your thoughts in the comments section.