Newsmax host Grant Stinchfield suggested on Thursday that the United States default on its debt and eliminate four U.S. government agencies.
“You see, failure to raise the debt ceiling is actually about defaulting on future obligations, not the current ones. It means you can’t buy anything else. You can’t spend more. So goodbye, radical infrastructure bill. Goodbye Biden spending free-for-all,” he said during his show Stinchfield. “The admission that the default threat is fake news is even buried in the White House’s own website. I found this today on it: ‘Once the debt limit is hit the federal government cannot increase the amount of outstanding debt. Therefore it can only draw from any cash on hand and spend its incoming revenues.’”
Stinchfield continued:
You see, current debt isn’t affected. Only increases of it. So what better way to balance the budget than turn off Washington’s financial fire hose. It needs to happen, but Mitch McConnell is too scared of the political ramifications to do what is right. We do have promised future obligations like bonds that needs to be paid. So we pay those first, then social security, then Medicare, Medicaid.And if we need money to pay those already-promised, not new, already-promised future obligations, then simply do away with lots in government. How about do away with the departments that we do not need. We start with the Department of Education. Move on to the Department of Commerce.
[EPA]. And yes, even the Department of Energy. Just wipe them out. That takes care of much more than $100 billion alone. And states should be handling all of those things on their own anyway.So you see the quest to raise the debt ceiling is all about the Biden spending bonanza.
On Thursday, the Senate voted to increase the debt ceiling by $480 billion that would last at least until early December. The House of Representatives is expected to vote on it next week. The United States would likely have to default on its debt if the debt ceiling is not increased by Oct. 18, warned Treasury Secretary Janet Yellen.
Watch above, via Newsmax.