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A new opinion in my ongoing argument with the judge over the debt -- now my position being.
We should authorize more treasury borrowing because we must not default on debts.
Well here's -- news halt -- god Bill Gross agrees with me.
He says not raising the debt ceiling is like giving the death penalty if -- shoplifting.
All rise the judges -- was afraid of Bashir on the phone and -- thoughts on.
Stewart this is and as I'm sorry I've got to drops -- told that this is a NASDAQ issue.
On the composites that not sending as information account already but apparently so they have -- -- That's right now what -- tomorrow and I'm right.
-- in my know and respect really should stick to making money rather than making absurd legal comparisons look.
Pat Toomey who used to be the head of the Club for Growth and organization you and I both respect and is now the junior senator.
From Pennsylvania explained on the papers of the Wall Street Journal on by the same parent company that that owns us.
How the government can pay its debt.
On the basis of the income tax received without any -- and Jim Johnson the congressman from Ohio was introduced legislation that says the first bills the government should pay as the debt.
Now what do you say about not raising the debt ceiling.
If we don't default if we do pay our debt and the result is about tightening and the government's expenses and -- down to the confines of the constitution.
We borrow four billion dollars playoffs each and every week now is it every day.
That would have it if every day yes we borrow four billion dollars every day I guess we don't know anything about bouncing a -- Atlanta if we stop borrowing.
Where do we caught four billion dollars each and every day that's -- we elect the president to do to make decisions as to how to spend only what he receives good estimate those cuts at some point you'll get down to the point well all you're doing is paying off interest on -- loans and you're not paying Social Security.
Should not assume that I'm not so of that every dollar the government collects between 25 and 27 cents goes to paying -- -- the rest -- to run the government if there's not a light around the government -- the government is too big.
And it needs to be shrunk do we need 900 military installations around the world we know 150000 troops in Afghanistan look.
Looking for 200 -- people let al-Qaeda.
You are saying you are saying -- -- -- that if we stop borrowing more money we will not default.
I am saying if we stop borrowing more money we do not how.
Have to default we can pay our bills first which by the way is the prudent thing to do pay your creditors you're Dennis first you actually convinced of this.
Yes -- -- -- the -- and -- convinced that that we will not default we've got enough money you know I'm not even know we will open it up because the people that -- -- -- don't know how to do -- I'm saying we don't have to default because we can -- the in the debt service first.
And then -- the Arab government that -- -- and we can shrink the government so we have to pay it it's interesting that Timothy Geithner would be using these words like catastrophic when in fact it's his job to find ways.
To buy -- time because that's what the government can do they can -- -- enough time that we actually make the tough talk about tough decisions do when I was out of let them.
-- -- debt ceiling buys time.
Yes I don't know.
It's appliances I -- that -- but I think that's really reliable but also -- have you thought about.
As a one -- -- -- -- and we continue to make this point you can't go from one and a half trillion dollars deficit every year to zero and I feel like -- if you can't do it.
-- -- -- -- -- -- -- -- -- Why the cost of doing it has to be pointed out.
All kinds of people will get chopped off but the -- you know what social.
These Social Security recipients -- military people that are typical.
Of soldiers' wages -- happens.
Government vendors will not be paid and are you prepared to do that -- which politician could possibly take that any.
I don't I don't know -- they're they're what you're saying -- -- -- that's what I don't think that you know what you're saying it's the absolute.
-- it's gonna happen it doesn't have to play out that way but still tough decisions must be -- object or this or this rats think anything that you foresee is that thought that a deal which is a tough decision we're out of time.
You're going to be getting -- if you don't know of this you can watch you and -- -- get that -- We don't want.
Every night trying to climb -- going through this.
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