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Obama Shouts Fire

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  • Description

    FBN’s David Asman sounds off on the president’s statements about the impact of not increasing the debt ceiling.

  • Duration 1:25
  • Date

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-- -- time for the final score now it's illegal to shout fire at a crowded theater but that's exactly what President Obama and his chief economic aides have been doing.

To get their covenant rays of the debt ceiling.

For weeks Treasury Secretary Geithner has been warning that will default if we don't raise the debt ceiling then.

We -- President Obama outrageously suggesting that there may not be enough revenue to pay seniors.

They're Social Security checks if we -- our debt limit of both of those statements are nonsense but the president's media parade inherited the claims without checking the numbers so.

Here are the numbers and they come up.

From the bipartisan policy center so they can't be disputed is partisan tax receipts in August led up to about a 172 billion dollars.

Out of that revenue we can pay out 49 point two billion for Social Security checks.

Fifty billion for Medicare and Medicaid 29 billion for interest on the debt.

Two point nine billion for US troop paychecks and two point nine billion for veterans affairs.

At least about 39 billion left over there could be used to fund IRS refunds food stamps welfare -- unemployment insurance about a bunch of other things.

Of course there were to have to be some major cuts but not from Social Security or Medicare.

To suggest otherwise is a scare tactic that doesn't even begin to add up to the truth.

And our minds the president crossed a line on this one or ought to be a law against that kind of rhetoric and that is tonight's --

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