This has to be one of the more brazen displays of lunacy yet from Josh Mandel’s non-campaign for senate. In a letter of endorsement from fellow wacko Sen. Jim DeMint, Mandel went on the record supporting the move to not raise the nation’s debt limit. This is from the letter of endorsement from the Senate Conservative Fund, a PAC run my Senator DeMint to help raise money for people who are clearly too out-of-touch to find a job elsewhere.
- Brown SUPPORTS raising the debt limit. Mandel opposes it.
On issue after issue, the choice is clear. Josh Mandel fights for freedom while Sherrod Brown fights for dependency.
If by forcing the US into an unnecessary default and destroying the credit worthiness of this country to score political points is some sort of necessary freedom, than I don’t want to have anything to do with that freedom.
Here is the problem, as I’m sure you are all tired of hearing by now, we have T-minus 12 days till the US will be unable to issue and sell any more bonds to pay for our outstanding obligations. These obligations are made up of medicare payments, social security payments, interest on debt, salaries to lunatics in the Senate like Jim DeMint, etc. Not paying any of these obligations will cause the county to default on its loans. (Also, don’t let anyone tell you that the US government can pay the interest on the debt we owe, and nothing else, and that will prevent the government from defaulting. Imagine you had three loans and at the end of the month you had enough money to pay on two of them. If you pay on two of them, and not the third, you have still defaulted on your third loan – this argument clearly doesn’t make any sense.)
Now, since the US defaulting has never happened before it is hard to say what impact this will have on the nation’s economy. Most economists agree that the spectrum of outcomes ranges from crappy to super crappy. Not raising the debt ceiling will be the first time a nation in modern history will have defaulted on its obligations not because it ran out of money, but because it simply decided to stop paying them back. A dubious distinction to say the least.
Besides the tremendous impact defaulting will have on markets around the world, and the economy here at home, millions of Ohioans who rely on medicare and social security will see their payments vanish. I’m going to turn this over to Justin Barasky, Spokesperson for the Ohio Democratic Party:
“Josh Mandel’s decision to support the United States going into default shows a startling disinterest in the repercussions for millions of Ohio seniors who will be left to twist in the wind if Medicare and Social Security benefits are delayed because of default,” said Ohio Democratic Party Press Secretary Justin Barasky. “It’s one thing not to care about the job you promised voters you would fulfill, it’s another not to care about how those very people are going to pay their bills, buy food, and pay for healthcare.”
In review, not only does Josh Mandel support pushing the economy into another recession but he also thinks it is OK for seniors and retirees to nott receive the money they need to buy food, pay rent, and pay for medical care.
Josh, may I suggest you try actually being the State Treasurer for awhile before you start espousing on economic policy again. You might learn a thing or two.