Obama to Cause U.S. to Default on Credit For First Time In Nation’s History Spiraling Milk to $100 a Gallon
According to U.S. Treasury Secretary, Jacob J. Lew, Congress needs to pass a debt-ceiling increase by Oct. 17 or the U.S. will be “dangerously low” on cash and risk defaulting on its payments for the first time in the nation’s history.
According to a report from Bloomberg
“I know the speaker well,” Lew said on CBS’s “Face the Nation” program on Fox News recently in response to Boehner’s remarks. “I know the speaker doesn’t want to default. He also didn’t want to shut down the government. He needs to give the majority a chance to vote.”
So what happens if the U.S. government, for the first time in history, defaults?
According to an article from the Free Patriot, (Read story here: Obama Ready to Shutdown 16 U.S. States) it could cause a gallon of milk to cost upwards of $100, a loaf of bread, $44, and a gallon of gasoline, upwards of $1,000.
So, let’s hope that U.S. President Barack Hussein Obama begins negotiations with his constituents, and leads, as he was elected to do.