Saturday, July 30, 2011

The Congressional Fight Over Debt Ceiling and Spending

Obama Wants More Fuel for the Fire
The Obama Administration spent trillions of dollars needlessly, running up the U.S. debt until it is close to the maximum allowed by law -- the "debt ceiling."  Obama is the stereotypical Democrat on steroids, with an obsessive, addictive and uncontrollable desire to spend, spend, spend, until Hell freezes over.

Obama has been sweating the debt ceiling, seeming to finally realize that his ruinous profligacy is endangering his chances for reelection.  This would be terrible, because if he is not reelected, how will he continue to destroy the financial future of generations yet unborn?

Ostensibly, the USA will default on its debts, for the first time in its history, on Tuesday of next week, unless the debt ceiling is raised.  If raised, then Obama can borrow more money to make debt payments and other payments.  If not raised, then  Obama may not be able to make payments, and people and nations holding US Treasury bills will be left holding paper they can't redeem.  China, foreseeing the incompetence of the Obama Administration, has been dumping its US Treasuries as fast as it can.

Of course, there are better solutions than allowing Obama to borrow even more money to continue his massive Ponzi scheme.  Obama could stop borrowing and slash spending.  All of the useless Departments (of Energy, Education, Agriculture, Labor, HUD, etc) could be ended and their budgets terminated.  To Democrats and some establishment Republicans, this would be like throwing a heroin junkie into a cell to go cold turkey, a sudden and painful withdrawal from his drug abuse.

So enters House Speaker John Boehner, Republican, who fastens together a bill that would allow immediate raising of the debt ceiling by $900 billion, coupled with spending cuts of $917 billion over some years into the future.  All House Democrats vote against it, because they already have their sleeves rolled up and the rubber tubing tied around their arms, and need their drug NOW.  More than 20 Republicans also voted against the bill, because they insist that the Democrat money druggies need to stop this abuse now, go cold turkey and slash spending.  Per the Washington Times:
Twenty-two Republicans joined Democrats in voting against the bill. Those Republicans argued that it didn’t go far enough in cutting spending, and was weaker than the version the House passed just last week.

“I cannot in good conscience vote for a bill that puts the future of my grandchildren and of generations to come in jeopardy,” said Rep. Paul C. Broun, Georgia Republican.
Boehner's bill passes the House by a vote of 218 to 210, in spite of this.  But it was all for naught, as the Senate quickly voted to table the House bill, effectively killing it.  The Senate is still controlled by Democrats.  The Dems are betting that, in a game of chicken with the Republicans, the latter will blink first.  Screw the future generations, the Dems are holding out for a better deal for themselves in the here and now.

So where do we go from here?  Well we can accede to the Democrats' blackmail and let them raise the debt ceiling to the skies.  This will allow American voters to see that the debt and spending disaster of the Democrats is also supported by Republicans, and thus cannot be used against the former in the national elections of 2012.  John Hinderaker of Power Line described the situation yesterday:
What the Democrats are trying to do, of course, is gain absolution for all of their fiscal sins by negotiating a cosmic deal with the GOP that, as I once put it, would put Republicans in the position of going over the waterfall holding hands with the Democrats. If Republicans are dumb enough to let that happen–which I doubt–then it will indeed be time for a third party.
Well said.  Sometimes I get the impression that the Republican Party is a giant conspiracy to elect Democrats.  If there is a way the establishment GOP can engineer a Democrat victory, they will find it.  Every one of those Republicans who support raising the debt ceiling should be issued a ceremonial mat and a hara kiri knife.

Meanwhile, the 22 Republicans who voted against Boehner's bill are heroes in my book.  They include Tom McClintock of California and Ron Paul of Texas.

Meanwhile, if you have a problem with any of this, please fill out the official complaint form here.

Related Post:  Declaring Victory?  Not Quite Yet

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