May 31, 2011 - 6:36 pm
After renewing the PATRIOT Act, I wouldn’t be surprised if you began to doubt all that wonderful GOP campaign rhetoric from last November.
Perhaps there’s hope: The House defeated “their own proposal for a $2.4 trillion increase in the nation’s debt limit Tuesday,” 318-97. Which means that even some Democrats voted no.
This signals their seriousness that they’ll only raise the federal debt ceiling if the bill includes $1 trillion in spending cuts…so they say right now.
Why raise the debt ceiling at all?
even in their best the Republicans are not a friend to this nation. $1,000,000,000,000 over ten years is a pointless request of cuts. Particularly when they have been raising the debt ceiling every 10 months.
First, cuts are always back loaded, less than 5% in the first year, maybe 8% by the second year, 12% by the third year, maybe 17% by the fourth year, 24% by year 5, 33% by year 6, 42% by year 7, 53% by year 8, 70% by year 9 and finally the rest by year 10. Who all thinks those cuts will remain effective over those ten years? I for one do not trust them to do it.
So, they increase the debt ceiling today, 10 months later, 20 months later, 30 months later, 13 times in all by the time we get the $1,000,000,000,000 in savings. Yippee, thank god our nation is saved from a crushing debt and debt payments. We will never again be fearful of being slaves to a debt used to pay lazy good for nothings, that includes individuals and businesses, for doing nothing.
I agree. Neither party has an ounce of integrity in standing up for the tax payer. What we need is a national debate, without Washington, to educate this prozac nation on what the real cost of the debt is in our lives and why we must band together to force a smaller government.
Good point. Cuts to me mean rolling back the entire federal budget right now to an earlier level. Or how about pruning useless deadwood like the ATF, EPA, OSHA, DOE, and HUD?
All this is nonsensical political posturing, ignoring reality….but, it is entertaining.
A measly trillion dollars in ‘promised’ reduced budget spending is irrelevent! It neither addresses the reduction of the literal public held debt, the interest on that debt or, the ever rising unfunded debt. Its akin to standing at the bottom of a waterfall with an 8 oz cup siphening off water in hopes you can lessen the amount of water flowing down stream. At the end of the day you’ve accomplished to reduce a few gallons from a continuous million acre foot of flow IF…… there is NOT any forthcoming source(s) to increase the continuous flow exceeding what you extracted. Therein, lies the matters of unfunded debt!
Attacking the public debt, interest on the public debt and the unfunded debt requires a constitutionally [legislated] means of drastically reducing the size and authority of government and paying down the existing publically held debt plus the unfunded debt obligations incurred during transition. There has to be a permnant legislated termination of the principle causations of the debt that, even if the nations economy was nationalized…is unsustainable!
Any other proposed approach, is contrary to reality and spitting into the wind.