Debt ceiling? Global warming? (Internet?) Bah! 

For years, Sen. Jim Inhofe (R-Tulsa) has argued global warming doesn’t exist. It’s fictional and a figment of every scientist’s imagination. According to the good senator, it’s an attack on the energy industry by tree-hugging environmentalists.

Now, Oklahoma’s other senator, Tom Coburn (R-Muskogee), contends the nation’s debt ceiling isn’t real and the U.S. won’t default on its loans if the ceiling isn’t raised. Coburn claims the U.S. Department of the Treasury will continue to pay interest on bonds held by creditors, redeem them and then issue new bonds.

However, Secretary of the Treasury Jack Lew has a vastly different opinion:

“There is no option that prevents us from being in default if we don’t have enough money to pay our bills.”

CFN doesn’t have any financial gurus on staff, but we do know if our bills aren’t paid on time, the creditors begin to call.

Pin It
Favorite

More by Gazette staff

About The Author

Gazette staff

GoldenEye N64 Tournament @ Up-Down OKC

OKC Touch Rugby Practice @ Scissortail Park

View all of today's events »

© 2022 Oklahoma Gazette / Tierra Media Inc. All rights reserved.
REPRODUCTION OF CONTENT IN ANY MANNER WITHOUT PERMISSION IS PROHIBITED.
TO OBTAIN PERMISSION, CONTACT US

Powered by Foundation