Thursday, September 19, 2013
The Debt Ceiling
President Obama just stated that raising our debt ceiling does not raise the debt.
Absolutely true. The man has spoken truth.
The debt ceiling is an arbitrary limit on deficit spending as determined by Congress. It is supposed to prevent the federal government from spending us into ruin.
What raises the national debt is the federal government spending money we don't have. And history has proved that the federal government will spend any money it can get its hands on. Always.
When Congress raises the debt ceiling, the federal government will spend it's way to it quickly.
And Congress has - over 100 times - raised the debt ceiling, allowing more and more deficit spending. That's why we are in debt almost 18 trillion dollars*.
So, the president - by not explaining the entire situation but only commenting about a small - but correct - part of it, once again sounds presidential and knowledgeable. But only to the non-thinking.
To those who can see beyond the endless 30-second sound bites, President Obama has once again demonstrated his skill at using a smidgen of truth to make himself seem the adult in the room, the fearless leader, the wise mentor.
But he is none of those. The sad part of it all is that Congress will continue to allow him to play his wholly destructive game of transformation.
A very willing Congress, I might add.
*America will never manage to pay off this incredible debt. National bankruptcy is the only course left.