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Four weeks has been using the rhetoric of fear about the debt sealing the economic catastrophe.
Automatic default all of but that would.
Follow -- -- deal is not reached by the administration's August 2 deadline for a debt ceiling.
I have been this missing men claim contradicting this administration from the very beginning.
Listen to this.
This government is not required to go in default because of a lack of money.
It would be a matter of choice if that were to happen any time within the next year.
And my next guest says the debt negotiation meetings are.
-- He says that instead of soaring scaring the public about economic Armageddon.
These meeting should be made public and the Obama administration should be forced to show a contingency plan if the so called debt ceiling is not raised by August 2.
Joining us now is Tom fit and he's president of judicial watch and -- it's great to have you with us.
And good to be with you first your reaction.
-- -- -- to the and to the breakdown in these negotiations today.
Well I mean the American people ought to be disgusted senator Johnson Wisconsin called this whole secret process disgusting.
These are now two or three men meeting in secret to decide how fifty trillion dollars in federal spending is gonna be spent.
Over the next ten years you know we have a constitutional process for deciding those questions.
And it's not being followed.
These leadership to show off what the White House so let's say a C span cameras with them tomorrow.
You say to say did you say Fox Business Network cameras.
Or -- -- you know neutral cameras like fox and MSNBC.
And CNN and -- Donald.
Good top you can overdoing good what they ask you this you have been sinking as much information as possible about what is behind all of this.
Rhetoric what I -- the rhetoric of fear emanating from this administration.
Or what have you found.
Well we haven't found anything to back it up we asked there's an agency the Treasury Department called the bureau public debt -- located West Virginia no doubt thanks to senator Byrd the late senator -- What does a lock box right you know we ask for what's gonna happen if they debt ceiling isn't raised.
And they gave us back the letter that John -- got back in January a copy of a public bill.
And they said the rest of that you're not gonna get because it's all inter agency communications.
And we've seen this play before a -- The financial crisis we were told there was going to be a financial contagion.
And and the world would end and we asked for the back up for that.
And we've never seen the backup for that it was all rhetoric and there was nothing substantive behind it and the president again is talking about not sending out.
Seventy million checks what is the basis for that they refuse to share it you can't trust that until you get the detail.
And and if I may offer.
One is it is a simple matter of choice and administration decision.
As to whether or not twenty billion dollars or so in Social Security checks are mailed out on August 3.
The president says the coffers aren't don't have that money.
That's simply untrue there's -- two point six trillion dollar Social Security trust fund.
Instruments that can be redeemed.
And -- so redeeming maintain and at worst they zero level on the debt ceiling and have no effect at all the president surely understands this.
His Treasury Secretary absolutely does understand is.
And hence I would be fascinated to find or whatever you are.
Learn whatever you discover.
In the your efforts Tom because the facts are compelling.
Their absolute and there is no mistake about them.
August 2 is a picture.
When it comes to default.
The only person who can default this government in its debt instruments is the president of the United States -- Treasury Secretary.
To do so in if there's any ambiguity about this are big.
Glad to make it clear to anyone.
I'm saying and in front of god and everybody and I don't understand why.
Our economists from around this country why every person Democrat Republican independent isn't standing up in this national media and saying.
This is bull.
And let's talk about the real issues.
Well I think needs to be an investigation of this they could spend.
Why not doing here and our two next week.
Bringing guy in Iraq talking about what and how are you giving us that if you measure our time about what to do that we're giving me subpoena power road -- get -- Well you know what well in -- sue -- it but it may be too late before we get the information that is to get what they want while based on the.
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