Saturday, January 8, 2011

The Debt Ceiling and other Washington Chicanery

During the Holidays, the National Debt quietly creeped over 14 trillion dollars. Our current debt ceiling (the amount of money that the government is allowed to owe) is now $14.3 trillion. Very soon now, Congress will have to raise this limit or we as a nation will start to default on our debt ... or we will have to arbitrarily start to defund programs.

Some folks are against raising this ceiling, and if we have to default or cut programs ... so be it! I say ... raise the ceiling gradually. Each time the ceiling is raised, get some concessions from the White House. You want to raise it to $14.7 trillion ... let's cut 10% across the board on all discretionary spending. Later on, if you want to raise it to $15 trillion, another 10% and a balanced budget agreement. Conservatives only control the House, this is a way to leverage that control to get things that they normally can't get through.

Now how about this 2% payroll tax reduction that the President put into the tax bill for this year? I've wondered why he didn't just cut income tax by 2%, then I realized why. 48% of Americans don't pay any income tax at all ... cutting the income tax does nothing for them. Let's not forget ... when an illegal gains employment, he immediately fills out his W-2 form with Married 12 dependants ... the only taxes he pays are the social security taxes. The President was just looking out for his constituency. Now we all can see how serious this Administration is about the solvency of the Social Security Trust Fund.

The Constitution was read aloud on the floor of the House of Representatives last week. This might have been the first time that some of our law-makers have every read the Constitution in its entirety. I hope they were taking notes.

This coming week the House will vote on repealing Obama-Care. Some say that it is an exercise in futility ... some say it is a colossal waste of time. I don't know about you, but I will be very interested in which members vote against this bill. This will translate into my vote come next election day.

So much for my first rant of the New Year ... may God bless you and our country.

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Brooke said...

I instinctively do not want that ceiling raised, but I think you have come up with a logical way to do handle this situation.

Let a conservative propose it and watch the Dems start digging in their heels and crying.

Debbie said...

This debate on whether to raise the debt ceiling should be interesting, especially on the Republican side. Many Conservatives do not want that debt ceiling raised and some are willing to negotiate some cuts before they agree to raising the debt ceiling. There is a big split on many things in the Republican party.

Right Truth

Always On Watch said...

Nice rant.

Like you, I'm going to be watching that vote on repealing ObamaKare. RINOs might be separated from the herd and help the GOP to return to true conservatism.

And good call about that payroll tax! As one who is self-employed, my taxes wouldn't be reduced, right? Ugh -- if so.

WomanHonorThyself said...

reduce net spending they say_ha!..HAPPY SUNDAY my friend~!

cube said...

Obviously, some programs have to be cut in order to sustain the debt ceiling. What programs are going to be cut?

MK said...

"The Constitution was read aloud on the floor of the House of Representatives last week."

I'm surprised democrats didn't fall over writhing around in pain, like when you fling holy water at devils.

"This coming week the House will vote on repealing Obama-Care. Some say that it is an exercise in futility.."

Perhaps but it must be one that must be undertaken. The people did not throw out the fascist left at the last election because they just love what president obama is doing.

cube said...

MK: lol about the writhing during the reading of the Constitution.

Paul Champagne said...

Brooke ... I fear you are right about the heels and crying ... but I hope you are wrong. We need to handle this situation.

Debbie ... there is definitely a split in the GOP ... but that is not neccessarily a bad thing ... compromise is underated.

AOW ... I think yours will still go down by 2% ... your employer portion will remain the same. I may be wrong though.

Angel ... do I detect a bit of cynacism? Have a great week.

Cube ... I'm not sure which programs will be cut ... how about all of them. There is no lack of government programs that are unneccesary that can be eliminated completely ... we can start with NPR and the National Endowment for the Arts.

MK ... lol ... I heard there was also gnashing of teeth among the progressives.