Sunday, January 16, 2011

Fear mongering and raising the debt ceiling

Fear-mongering Democrats are warning of nearly apocalyptic consequences if Republicans do not go along with efforts to raise the debt ceiling (yet again)!

Democrats have spent money like there's no tomorrow--bringing us to a crisis point--and are now threatening  Republicans with dire consequences if they do not go along with their proposal to raise the debt ceiling! (Like Bush was threatened with dire consequences if he did not go along with immediate stimulus spending--money which, after two years, has still not been entirely spent)!

No one seems to be pointing out that the fact that we need to raise the debt ceiling at all is proof of the irresponsibility of the Obama/Pelosi/Reid regime.

Just to be fair, however, it is not all the Democrats' fault. When Bush spending was out-of-control and he wanted to raise the debt ceiling, then Senator Barack Obama said,
"The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. Leadership means that 'the buck stops here.' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better. I therefore intend to oppose the effort to increase America's debt limit."
Just once I wish Mr. Obama would try to demonstrate that he is not the hypocrite he appears to be by insisting that what he said about the Bush administration is true for his administration as well.

And maybe it is time that the American people and our politicians draw a line in the sand and say no to any more raises in the debt ceiling by Democrats or Republicans!

For a further (and much more informed) analysis of this issue, please take time to read Arthur Laffer's outstanding article in the Wall Street Journal.

1 comment:

Kevin said...

Well said.