OK, this is it, I promise: my last column on the so-called debt crisis (at least until next month). I know you’re getting tired of hearing about it. I’m getting tired of writing about it. But the lies and distortions have gotten so outrageous in the past few days that I simply must get on my soapbox one more time and try to clear up a few of the biggest piles of sh-t. Here are the latest “Big Four” that got my goat.There is no Aug. 2 deadline, I know, it’s hard to believe. All we’ve heard for months is economic catastrophe if the debt ceiling isn’t raised by Tuesday.
But where did that date come from?
It was plucked out of thin air by Treasury Secretary Timothy Geithner. It has no basis in fact, in law or in any accounting data anyone can present. The big spenders in Washington simply picked a date at random with which to frighten the American public.Even Geithner admits that “technically” the government ran out of money two months ago. He says he used “extraordinary measures” and “accounting maneuvers” to delay the crisis as long as possible. But if he could do it for eight weeks, why not nine? Or 10?