Peter Schiff: We Will Never Pay It Back, We Can't Pay It Back, That's Why We Raise The Debt Ceiling!



H/T Blazing Cat Fur

Related: Steny Hoyer: The Debt Limit ‘Is Not Real’

House Minority Whip Steny Hoyer (D-Md.) said Tuesday that the debt limit is “not real” and should not be part of any negotiations to avert the fiscal cliff.

“First of all, I again would urge the Speaker not to use the debt limit to the detriment of the credit-worthiness of the United States of America as a leverage point,” Hoyer said during his weekly pen and pad briefing with reporters on Capitol Hill. “It is not a leverage point.”

“It is not real,” he said. “It is a phony political debate. We have incurred debt and the United States will meet its obligations, pure and simple.”…

H/T Weasel Zippers, Steny Hoyer Attempts The Jedi Mind Trick: The Debt Limit “Is Not Real”…

House, Senate Democrats: No Deal If It Involves Medicare or Medicaid Reforms

Senior House and Senate Democrats said that they were opposed to any fiscal cliff deal that would cut Medicare or Medicaid, telling the White House and House Republicans they opposed any plan that would cut federal health care programs.

“We’re not budging on Medicare, and we’re not budging on Medicaid,” Sen. Jay Rockefeller (D-W.Va.) said at a Capitol Hill press conference Tuesday…

Obama in 2008: ‘We’re Going to Have to Take On Entitlements – I’d Like to Do It in My First Term’ 

As a candidate for president in 2008, Barack Obama said he would like to address entitlement reform during his first term in office.

“We’re going to have to take on entitlements, and I think we’ve got to do it quickly,” Obama said as a candidate on Oct. 7, 2008, during the second presidential debate. “We’re going to have a lot of work to do, so I can’t guarantee that we’re going to do it in the next two years, but I’d like to do it in my first term as president.”…

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