Monday, January 03, 2011

Just say “No” to raising federal debt ceiling!

Judson Phillips of the on Sunday evening posted a great article, “The drumbeat has started.”  Here is that article. I have emphasized some of the key points of the article. 

The new congress comes into Washington on January 5th [Wednesday] and one of the first orders of business will be the issue of raising of the United States debt ceiling.  We are already hearing the chorus that we must raise the debt ceiling.  We have no choice.

Yes, we do have a choice.

There are consequences if we do not raise the debt ceiling.  If we default our credit rating as a nation will go into the toilet and hit will hit the bond markets and the currency markets very hard.

But continuing to raise the debt ceiling will hit us hard as well, for the simple reason, we cannot raise it indefinitely.  When we raise the debt ceiling this time, our national debt will exceed our gross domestic product.   At some point, we will become insolvent. 

This is the ultimate goal of the hard left.  They want to destroy the American economy.  The left wants to destroy capitalism and the free market economies.  Unrestrained spending will do this.

Fortunately, at least for now, the Republican leaders are saying they will hold firm on this.  Lindsey Graham (RINO-SC) says he is going to refuse to vote for any increase in the ceiling unless there is a specific plan to reduce spending.

No, Lindsey, I realize selling out is in your nature, but do the country a favor, pretend you have a backbone and do not sell out this time.    A specific plan does not do anything.  Plans can be changed.

A plan means NOTHING!

We may need to have a small increase in the debt ceiling, but it has to be a small increase and only when there are actually reductions in spending

Promising what conservatives want is a trick liberals have long mastered.   Like the character Wimpy, in the Popeye comic series who famously said, “I will gladly pay you on Tuesday for a hamburger today.”  Republicans have long given in to the left, giving them the hamburger today in exchange for the promise we would be paid on Tuesday.  But Tuesday never seems to come.

As the deadline for raising the debt ceiling comes, we are going to get the promises from the liberals.  They will offer a plan to cut spending, if we will only agree to raise the debt ceiling.  If conservatives agree to raise the debt ceiling in exchange for a “plan”, something mysterious will happen on the way to the plan.  The plan will get side tracked.  With no pressure, the liberals will keep spending like drunken Democrats until we bump up against the debt ceiling again.  And again, they will want us to rearrange the deck chairs on the Titanic.

We need our Senators and Congressmen to hold firm on this one.   The left will tell us it is the end of the world if the debt ceiling is not raised.   There is something worse than defaulting on our debt.   That is continued, uncontrolled spending and borrowing..

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