The Latest on the Debt Ceiling fight, and a sidenote: West vs Debbie Downer
Let us be perfectly clear, enough with the straw man arguments, enough with the disingenuous statements, and darn sure enough with the empty threats.
1- We have enough revenue stream to pay the interest on our debt and essential services (Soc sec, Medicare, Military, ect.) at the least, to that there is no question.
2- We will not default (see #1) and as to the 14th amendment argument; It does not give the president the power to execute an economic fiat, to institute a dictatorship that violates the separation of powers by usurping congressional authority, nor is the congress empowered to abdicate their authority and responsibility. If we do default it would only be because Obama does it on purpose, violating the Constitution. Further on that argument, the 14th does not speak to taking on more debt, it only speaks to paying obligations, and what fool is going to borrow money to pay back borrowed money? That’s what you call a ponzi scheme!
3- The main reason our credit rating is in jeopardy is not because of the prospect of default, but rather because of the existing level of our debt. Taking on even more debt will not alleviate this problem.
4- If any extension of the debt limit is to be allowed at all, it must be done as a short-term measure to get us to the start of the 2012 fiscal cycle which is Oct 1st, and with a matching spending reduction plan that will allow for immediately paying back the additional debt, as opposed to institutionalizing it as a permanent increase. In addition and most importantly, it must be done in accordance with a 2012 budget plan that has massive spending reductions partnered with a deficit reduction plan that brings down our debt and deficit over the next 5 years to near 2008 levels and gets “total” (not just domestic) spending down to 19% of GPD.
President Obama, speaking at a news conference Tuesday above, had previously told congressional leaders that he would veto a short-term deal after Senate Republicans had floated the option of extending the debt limit for several months. Opponents of such a deal fear that, once the limit is raised, it will reduce pressure to reach an agreement on reducing the $1.5 trillion annual deficit. (AP Photo)
Obama Backs Down in Debt Battle
- NYT: Obama, Boehner Close to Major Deal (sorry but often hard to believe the NY Slimes)
- Rep. Jordan: Heed House ‘Gang of 234’ to Cut
- Limbaugh Urges GOP to Stand Firm
- Short-Term Debt Hike May Be Used as Band-Aid
- Steyn: ‘Gang of Six’ Plan ‘Total Joke’
- Sen. Lee: Greedy Politicians Fear Loss of Power – The American people need a balanced-budget amendment to halt the government’s blank check, says Sen. Mike Lee, R-Utah. Lee is the lead sponsor of the cut, cap, and balance plan in the Senate.
- Romney Says Obama’s Policies Hurt Economy
- WashPost/ABC Poll: Romney Leads by Double Digits
- Democratic Poll: Weakened Obama Would Lose to Romney Today
- Bottom line: Rep. Paul Ryan: Obama Favors “Unlimited” Govt
- Video: Paul Ryan: Cut, Cap & Balance the Budget; Grow the Economy
- Former FDIC Chief Isaac: Fiscal Crisis Threatens US – Another fiscal crisis is the top threat to the nation — and it could come within the next year, says former FDIC Chairman Bill Isaac. “Financial regulations such as Dodd-Frank won’t prevent another crisis, but getting the nation’s spending and debt under control could.” “Unless the government rids itself of a bad habit of applying regulations that do no good, more crises await.” “The fiscal crisis is the number one threat to our nation right now, and if we don’t address that in a serious way soon we will be back in a far more serious crisis than we have ever seen,” Isaac says. “I’m hoping that our political leaders can get together and address this fiscal crisis and get it under control.” “Entitlement programs will need some adjustments, so will tax loopholes, and proper regulations are needed, not those outlined under the year-old Dodd-Frank law.” “Dodd-Frank is the worst piece of financial legislation that I have seen in my lifetime.” more…
- Consumers Buy Basics on Credit as Incomes Fall
by Dan Miller – The “unexpected” debt limit mess has persisted far too long for anything better than the least bad outcome to be anticipated.
Flashback – Michael Reagan: Dad’s Still Waiting for Democratic Spending Cuts
Ronald Reagan’s son Michael is countering the claims a Democratic advertisement makes in using The Gipper’s own words to attack Republicans over the debt ceiling fight.
“When my father was president, the Democrats promised him $3 in spending cuts for every dollar of new taxes,” said Reagan, a Republican strategist who is spokesman for The Reagan Nation and chairman and president of The Reagan Legacy Foundation. “When my father died in 2004, he was still waiting for the spending cuts.”
Nearly a quarter-century ago President Reagan said, “Congress consistently brings the government to the edge of default before facing its responsibility,” and warns of rising interest raids, unpaid Social Security and veterans’ benefits, and turmoil in financial markets if the debt limit is not raised.”
The House must stand firm while the Senate continues to be a joke!
‘Cut, Cap and Balance’ Now – Sen. DeMint makes case to Greta for plan in debt crisis
Executive truth-tellers about Obama’s disastrous policies
July 21, 2011 – Normally cautious big business CEOs are so appalled they are starting to speak out, in numbers.
by Andrew Klavan – NBC, ABC, and CBS were major factors to the 2008 crash and are helping to pave the way to future economic troubles now.
West: ‘I Stand by What I Said’ (and so do we!)
- VIDEO: ‘I Stand By What I Said’
- VIDEO: West on Fox Business
- Calif. Dem Compares West to Fla. Koran Burning Pastor (but that’s ok, right?)
West vs. Wasserman Schultz – Should GOP lawmaker apologize to DNC chair? (we’ll answer this for you; Not a chance!)
Authoritative reports on Michelle Bachmann’s migraines
July 21, 2011 – She refuses to play the victim. (hey Debbie Wasserman Schultz, here’s yet another lesson for you)
(and one more; Debbie will you denounce your buddy and fellow Democrat?) Rahm blows his top
July 21, 2011 – The lady reporter’s question that sent the Chicago mayor into a finger-pointing, yelling, stepping-within-inches-of tantrum, in “her” face, with video. More
We’ve posted this before, and it’s apparently time to do so again.
So we might as well fight fire with fire, if you are able, please go here and support Congressman West.