Debt Ceiling Talks - They Must Think We're Stupid

By Chris W
The Libertarian Patriot

$4 trillion in cuts, $2 trillion in cuts, it all sounds wonderful and makes for great talking points until you read the fine print. You see, these aren't immediate cuts but promises to slightly decrease the rate of spending over a 10 year period. This would allow Congress and the President to increase the debt ceiling now, while they kick the can down the road with no guarantee that these "cuts" see the light of day.

The American taxpayer is being sold a bill of goods and the only outcome from the talks is which party gets to claim victory.

What we need are cuts right here and now to reduce the deficit. These talks are also a bait and switch because while they are talking about the $14.2 trillion debt ceiling, nowhere is there any mention of the $61.6 trillion in unfunded liabilities that we face as a nation.

Here's a way to look at this in terms that the average American can understand. You have $50,000 in credit card debt, 2 car loans that you still owe $25,000 and a mortgage with $150,000 left on the note. By Leviathan's way of thinking the only concern you have is the $50K in credit card debt, which a $5,000 raise in your limit and a promise to yourself to cut back on spending makes all your financial problems go away.

If it were only that simple.

Those of us that actually manage a budget know that the $175,000 is still real and needs to be paid. That little bump in our credit limit may help short term but it puts us deeper in debt and does nothing to address our greater liabilities that we will need to borrow more to pay off.

In order to rein in our debt problem we need to take action today. The Keynesian notion that we can spend our way out of debt is ridiculous. Only through drastic cuts in Social Security, Medicare, Medicaid and defense, putting an end to corporate welfare and bailouts, stopping the debasement of our currency by the Fed, ending individual reliance on government handouts and getting rid of unconstitutional federal agencies and regulations that do not allow our nation to be competitive only then will we be able to get our financial house in order.

Via Memeorandum

1 comment:

  1. what we need is the whole nation to stop paying taxes...


Commenting here is a privilege, not a right. Comments that contain cursing or insults and those failing to add to the discussion will be summarily deleted.