Should we raise the debt ceiling?
“The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies.”
I wish I could say I had written that, but alas I cannot take credit for that statement. No that was said by someone a lot smarter than me. Someone with great credentials. Someone high on the national scene. Nope, I’m not talking about Jim Demint, I’m talking about our President, Barack Obama. This was in 2006 and he was explaining his vote against raising the debt ceiling. Now we flash forward 4 years, and the same person who voted against doing so then, is criticizing those who would vote against raising the debt ceiling today.
Personally I think it is time to take a stand on this issue, draw a line in the sand, and see where it goes. As Jim DeMint said a government shutdown isn’t something anyone wants, but “it’s not something we should be so afraid of that we’re willing to cave in to more debt.” He thinks Americans “expect us to fight more spending and more debt.” I could not agree more.
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TM..it’s easy to say you are against raising the debt ceiling when you are in the minority and your vote doesn’t mean anything. We’ll see how serious the Republicans are real soon. I hope they are serious because they are the only hope we have. Tax increases won’t get us there because they never raise the money people think they will. That being said, if we had to raise some taxes in the future around the edges to get out of this mess, ok. However, spending, in all areas, must be cut. As Paul Ryan said on Morning Joe this morning…if you ignore Defense, Medicare and SS, you are ignoring 2/3 of the problem.
Realistically, we have to raise the debt ceiling. We can’t tank the world economy. However, I would insist on cuts, inked in blood (not promises), that would get us to about $2.5-$2.7 Trillion in spending within 5 years. If enacted, any Congressman that tries to undo the limit down the road should be tried for treason.
1Jeff, I hear what your saying. Personally, I have cut back on spending and way back on debt (well at least new debt) but if I had to have a car to get to work so I could make money to support my family, I would not hesitate. However, I would never borrow money to go cruise or other vacation. Let’s hope they can stick to borrowing money to keep us working.
2Frankly I am concerned. Of course we have to reduce the national debt to a level we as a country can manage. We have to reduce all areas of spending. I think the Government should first look at their own benefits and salaries first to see were they can cut costs before they attack Medicare, Social Security and other programs that support people who have worked all their lives paid taxes and made social security payments to help with health related issues and medications later in life. If the Government cut Medicare and Social Security will they cut the insurance premiums we pay each month? no they just raise the premiums and cut the benefits anyway. Banks, Insurance and drug companies along with the Government are raping us.
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