Our View: Inexcusable β€” and fallacious

Posted: October 5, 2013

On Tuesday, the first day of the (partial) shutdown, President Obama advised a surprisingly sanguine Wall Street community that it was time to panic. Republicans, he said, are willing to let the country go into default.

Not only was this rhetorical gesture inexcusable, but also flat-out wrong, a falsehood. As political economist Thomas Sowell has pointed out, tax money continues to flow into the Treasury, even during the shutdown β€” β€œand it vastly exceeds the interest that has to be paid on the national debt.”