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John Boehner will be writing his own political obituary if he capitulates again to Barack Obama and raises the debt ceiling of the US government.
Boehner says he wants to cut spending, but he will be exposed as a liar if he increases the debts currently smothering our economy. This issue is very clear, and Americans understand this crisis because so many of us have faced similar financial difficulties ourselves. We know what it means to have spent more than we can afford.
America cannot continue to feast on an orgy of credit and spending. Easy money given to the political establishment is the cause of the current crisis. George Bush spent more money than was prudent or necessary, and Barack Obama has doubled down. The debts now are greater than 14 trillion. How much debt will be enough?
The scare mongering by the media and power elites should be ignored. If we don’t extend the debt ceiling, America need not default on current debts. Quite the opposite is true. If we continue to increase our debts we are moving minute by minute closer to a future default. No debtor improves his situation by increasing borrowing.
As Senator Pat Toomey(Rep-PA) recently stated: “In fact, if Congress refuses to raise the debt ceiling, the federal government will still have far more than enough money to fully service our debt. Next year, for instance, about 6.5% of all projected federal government expenditures will go to interest on our debt… why would we ever default?”
Boehner repeatedly says he wants to use the debt ceiling crisis to force a cut in spending. The best way to force votes to cut spending is to not add new debt. No passage of the debt ceiling guarantees that the Obama Administration will be forced to actually cut. Priories will come into focus when the limitless flood of money ends. Until then Washington will never change.
The use of words in Washington needs to accurately reflect reality. Spending is greater in 2011, than it was in 2010. Government spending is continuing to grow month by month even with Republicans and Democrats claiming they have cut it.
If a family or a business has a decrease in income they are forced to cut spending to bring the budget back into balance. Washington has ignored the warnings of economists and prudent leaders too long. The word compromise in Congress has actually become a code word for capitulation to the relentless special interests fleecing America.
If we don’t raise the debt ceiling we have an opportunity to engage in an honest discussion about priorities. Maybe bombing Libya isn’t justified if we understand that it will cause a suspension of Social Security payments.
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