Krauthammer: America Heading for Nation That Cannot Pay Its Debts Anymore
Kyle Becker | On 17, Jan 2013
Charles Krauthammer appeared on Fox News All-Star Panel with Bret Baier to discuss the looming debt ceiling. The columnist made the situation so plain that all sides should be able to get it:
If we keep spending like this we’re going to have a president in a few years whose going to stand up and say that we are unable to pay Social Security, or the military or benefits. And not because of self-imposed crisis on a debt ceiling, but because we will be out of money. And that is what the Republicans are trying to avert.
The president is playing this like a demagogue in pretending we don’t have a debt issue. We do. That is hanging above us and that’s what will destroy our credit rating in the end. Not a crisis that we create and then get around as we have in the past, but a real one of a country that cannot pay its debt anymore, which is where we’re headed.
The president has suggested that he will not be “held hostage” by Republicans when it comes to seriously cutting non-defense spending. Contrary to popular mythology, states do run out of money and global currencies do go into decline.