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FBN’s Lou Dobbs on what actually happens if Congress does not raise the debt ceiling.
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-- another debate -- this congress about whether or not.
They should pay the bills they've already racked up.
If congressional Republicans refused to pay America's bills on time.
Social Security checks and veterans' benefits will be delayed.
Social security and veterans' benefits.
Who.
That's the president resorting scare tactics.
Trying apparently get the Republicans to back down in the debt ceiling debate.
And you may have noticed today that sounded vaguely familiar -- -- he used exactly the same tactics and the same language in 2011.
And that's nothing original at all and not raising the debt ceiling I wanted to know in my judgment is not a reasonable outcome.
But neither is the president scary nonsense about Social Security checks as a matter of fact I find that to be frankly appalling.
On his part or anyone who would resort to that kind of scare tactics.
-- those in our society should who should never.
-- I'll be frightened by our nation's leaders.
The issue of who what gets paid by the way.
In a debt ceiling impasse -- shutdown of government would be entirely.
Up to the president of the United States.
-- -- If congress does -- -- the debt ceiling by late February.
The Treasury Department will have to cover about 400.
About 450 billion dollars.
And obligations.
About 450.
Revenue at that point 277.
Billion dollars.
Essentially the government will only be able cover about 60% of its -- 60%.
Of -- spill.
Treasury would still make interest payments on the debt by the way they debt payments.
You know that.
That would account for about forty billion dollars.
-- -- Forty billion dollars just for debt.
Which is still pay out Social Security benefits will account for about 61 Social Security.
61.
Billion dollars.
And we could still a veterans and our military.
-- that would cost another seventeen.
Billion dollars.
Our for the military.
And -- for veterans.
That's still only a 118.
Billion.
Of -- 217100.
-- -- eighteen billion.
So I want -- and -- Why would anyone not be appalled by president saying what -- just it.
Implying that there wouldn't be adequate money to take care of Social Security obligations during that period.
Implying that it would not be up to him to make a decision which would prevent.
Our Social Security reciprocal -- her for helping to worry about such a thing.
And these this is not the stuff but which this president wants to be remembered this president likes to -- Republicans as irresponsible.
For resisting an increase to the debt ceiling.
But wouldn't that label also apply to any administration that would openly violate the law.
That requires the president to submit a budget to congress for the first Monday up every federal work.
We -- the White House.
Will miss the deadline this year it acknowledged such.
As it has missed its deadline for through the past four years.
We can only hope Americans do take notes in just a note of caution Mr.
President.
And new Gallup poll shows that Americans are paying attention.
In a remarkable.
Were remarkable way.
With some detail and some very specific interest.
In fact when asked to name the most important problem facing the United States in the most recent Gallup poll.
Let's take a look at this because it's really important as the president prepares to speak to the nation tomorrow.
On one issue.
What -- 1% of the respondents said the most important problem facing the country.
The economy.
21%.
20% said the deficit.
20%.
18% said dissatisfaction with the government.
Overall.
That -- -- extraordinarily low to meet a 60% say -- greatest problem is unemployment.
But -- that number correlates very close.
The number of folks who were unemployed including those who have given up looking for work.
5% said just simply the lack of money is the number one problem as they see it.
By the way.
4% 4%.
Sent him -- -- This is -- are Mr.
President.
This is where you war.
And it appears President Obama is being reckless with at least two of those issues thus.
23 million people remain.
Out of work.
To press briefings on gun control.
Well.
Let's see what --
