The media refers to this as a “collapse”. The only thing collapsing is the self-sustaining bubble of nonsense that to date has protected the media and their creation, Barack Milhouse Obama (h/t Mark Levin). The unconstitutional machinations of the 111th Congress and their leftover President are being halted and will be rolled back.
I sincerely hope that conservatives are able to hold this door open past the laughable August second “deadline”, when the only thing that happens is the Democrats are exposed as a bunch of fear-mongering liars who want to boost the money under their control simply for the sake of boosting the amount of money under their control.
So call his bluff. The unfortunate McConnell deal must of course be ignored if not shredded and burned, and the Gang of Six deal is doing what it was intended to do: to give Obama something to contrast himself against. So Replace McConnell and slap down the Republicans involved in the Gang of Six. Speaker Boehner has rehabilitated himself in my eyes, at least to the level where I will not agitate for his ouster. In fact, I am grateful. Hal Rogers still has to go, but Boehner has walked the walk on this debt ceiling issue, and am not one to hold it against a man when he does what I want.
What the media is not mentioning is that US debt is already being downgraded, and not for failing to raise the debt ceiling, but for spending too much without paying for it. That’s right, the debt itself, not the debt ceiling. Too much debt, rather than too little credit.
Unlike the President’s late July deadline, or the early August calculated surpassing of current credit limits,this means something. A reduction in our credit rating for carrying too much debt is a real indicator of trouble. Expanding the debt limit will do nothing to help, and enacting a larger debt under an expanded limit will only make the problem worse. Negotiations to raise the roof will only bring down the house.
Anybody paying bills with a credit card knows the trouble we are in. The problem here is not that this is complicated. The problem is that it is very simple, but far too many people make their living by treating it as if it’s complicated. They have every motivation to make it look much harder to solve than it is, because they are the ones shopping on all that credit.
This problem goes away if a two-step program is followed:
- Stop racking up new debts
- Pay off old debts
And that’s it. Raising the debt ceiling doesn’t fit in to that, and that is why conservatives oppose it.
