Mathews Analyzes Obama and Boehner’s Lack of Agreement to Raise Debt Limit After Oct. 10 Meeting

Peter Mathews on KTLK AM 1150: Boehner will continue shutdown, Obama wants to end it while debt limit discussions go on. Mathews and Cruz discuss some of the effects of the government shutdown, including a $46 million hit to the LA Housing Authority and the section 8 program, temporary delay of death benefits to families of fallen U.S. soldiers in Afghanistan, even the effects on Border security. Mathews commented on breaking news from Treasury Secretary Lew that Treasury has run out of “extraordinary measures” to free up cash and will run out of it in a few days. Mathews noted that Section 4 of the Fourteenth Amendment to the U.S. Constitution says that every U.S. debt has to be honored. Since Congress seems unwilling or unable to implement this Constitutional requirement, Mathews says, and as UC Berkeley Professor Robert Reich has recommended, President Obama may have to order the Treasury to pay ongoing U.S. expenses and debt/interest in order to prevent a financial and economic disaster. Peter Mathews said, “Democracy is not a spectator sport”, as he urged thousands of Americans to call their Congressional Representative, particularly Speaker of the House John Boehner and let them know that they must end this fiscal and economic crisis by ending the Government shutdown, extending the debt ceiling, and then closing unproductive corporate tax loopholes, and cutting governmental and Military waste in order to generate more revenue to reduce the Federal Debt, invest in Small Business, Job Creation and Education.  [Listen]  (12 min.)

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