60% of our spending habits ARE covered by today's tax revenues, and the tax revenues continue to come in even if we "hit" "Teh Debt Ceiling". Unless I missed a memo that until this is figured out we'll all be on Tax Holiday. If the debt ceiling isn' raised would only "default" if the Obama Administration chooses to use incoming tax revenues on things other than our national debts. If the Social Security checks don't go out, it will be because Obama chooses to have the payments withheld.
And on that subject, aren't we constantly assured that there's this Social Security "trust fund" where all our money is, and anyone who says it's not there is a "Fearmongering Extremist Right-Wing Nutbag Conspiracy Theorist?"
Read Morgan's post over here. Makes good fodder for conversation with your friends who think you are a "Fearmongering Extremist Right-Wing Nutbag Conspiracy Theorist"
Dang. I forgot "Racist". How could I?