End this debt ceiling nonsense forever

By my friend Ed Pliml:

When Congress votes on a proposed budget, they are deciding on what and how much to spend money on. The debt ceiling is paying the bill for what they already spent. They can fight over the budget every year until their dysfunctional debutant ignorant politician ears bleed. But once you place your order & get your food, you don’t dine & dash. And if you do (or even threaten to), you can’t expect to be served the next time.

We’re in a ton of debt. You can argue that we shouldn’t use any more credit. That we’re digging ourselves into a hole we’ll never get out of. Others say, “Okay, but we have no cash & we need food & I have to put gas in the car to get to work to get paid. So let’s be practical.”. To which the first group says, “We tried. We can’t. Every time we walk into the grocery store we end up coming out with $20 worth of crap they sell at the end of the register while you’re in line.”. To which they other group says, “Yes, I get it. We suck at this. But if we don’t put gas in the car, we’ll lose our job & won’t have ANY money.”. And back and forth… FINE. There’s a very reasonable discussion to be had and often (reasonable even for politicians). But you DON”T agree to max out the card & then decide not to pay the bill. You decide how much to spend BEFORE you spend it. … These are BUDGET discussions. Not “Should we pay our bill?” discussions. That shouldn’t ever be up for discussion.

WE WERE DOWNGRADED OVER THIS LAST YEAR. That means we pay a higher interest rate now. Just discussing this has cost us millions. Why? Because banks don’t trust you as much when you publicly discuss whether or not you’re gonna make your payments on what you borrowed from them…on the news…for months. They’re touchy that way.

For the record, although on this particular issue it’s the Republican politicians costing America billions for petty political points, Democrats have done the same in many different and petty/vain ways. So remember, whether you support Dems or the GOP, you support a party of contemptible treasonous lying cowardly sociopaths.

– Positive Reflections by Ed Pliml

Word!

  • http://www.aclassicalliberal.net Classically Liberal Dave

    Dean, with all due respect I think your analogy is wrong. I think the analogy below would be more accurate, although it is still imperfect.

    Six months ago we maxed out all our credit cards. We debated over whether or not to open another credit card, and at the last minute we decided to open that credit card. That card is now maxed out as well. The problem is not just that all our credit cards are maxed out, but that we refuse to do anything about the problem other than to keep opening new credit cards every six months.

    You’re suggesting that we should just open another credit card whenever we need it without regard to the real underlying problem.
    We asked Bowles and Simpson to come up with a plan to address the underlying problem. They did, and everyone has ignored it.

    We still have trillion dollar deficits, and all we have done nothing about it since the last time all our cards were maxed out. I’d say we should implement Bowles Simpson, and raise the debt ceiling so that with Bowles Simpson in place, we don’t need to talk about the debt ceiling for another year.

    If we just keep kicking the can down the road, eventually there will come a day when we can’t just open another credit card.

  • http://www.aclassicalliberal.net Classically Liberal Dave

    Dean, with all due respect I think your analogy is wrong. I think the analogy below would be more accurate, although it is still imperfect.

    Six months ago we maxed out all our credit cards. We debated over whether or not to open another credit card, and at the last minute we decided to open that credit card. That card is now maxed out as well. The problem is not just that all our credit cards are maxed out, but that we refuse to do anything about the problem other than to keep opening new credit cards every six months.

    You’re suggesting that we should just open another credit card whenever we need it without regard to the real underlying problem.
    We asked Bowles and Simpson to come up with a plan to address the underlying problem. They did, and everyone has ignored it.

    We still have trillion dollar deficits, and all we have done nothing about it since the last time all our cards were maxed out. I’d say we should implement Bowles Simpson, and raise the debt ceiling so that with Bowles Simpson in place, we don’t need to talk about the debt ceiling for another year.

    If we just keep kicking the can down the road, eventually there will come a day when we can’t just open another credit card.

  • http://madisonforum.net/ Sandi

    The debt ceiling is paying the bill for what they already spent.

    Well your friend Ed Pliml who ever he is, is a plagiarist, Those words ( while totally incorrect ) are straight from Obama’s mouth, I heard it repeated enough on CNN.

    In the first place, all the government is required to do is pay the interest on the debt, not any principle, although that is a huge amount in itself. Second if you just stop and think about that statement, it makes no sense at all.

    Lets say you give your kid a credit card with a $5,000 yearly limit, and a cumulative total dept ceiling of $20,000. More than the debt ceiling and you don’t have the income to keep up the payments.

    Your kid is anything but frugal and racks up $10,000 or more every year. Now after two years the dept ceiling is reached. What Pliml ( Obama ) is saying is, that instead of reining in your kids spending, or raising other revenue to pay for it, you have to raise your kids dept ceiling in order to be able to afford to pay for what they already spent. What kind reasoning is that? Typical Washington fool-flippery speak.

  • fche

    An aspect of this discussion I find fascinating is the left’s claim that merely discussing thsi topic is shaking the confidence of the financial world. That the country will suffer terribly as a consequence of speech.

    It would not be many steps from there to outlaw some kinds of speech — like the credit ratings agencies being muzzled in Europe for their unflattering assessments of EU governmental finances.

    And from there, the sky is the limit. The silent sky.

  • http://www.aclassicalliberal.net Classically Liberal Dave

    When Congress votes on a proposed budget, they are deciding on what and how much to spend money on.

    No, Congress voting on a budget does not decide this. Congress passing a budget decides this. Specifically the House passes a budget first, and then the Senate passes something else. The Senate has not passed a budget in over 3 years.

  • BobCutlass

    Well, am I a liar or a truthteller when I say the following about our president’s leadership as respects the deficit and the debt?

    The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. 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.

    Am I a liar Dean? Aziz?

    *snicker*

  • http://www.aclassicalliberal.net Classically Liberal Dave

    Bob, not to mention the fact the problem is now two or three times worse than it was then.

  • http://www.jaeddy.com John Eddy

    Don’t worry. What cannot go on forever, won’t.

  • Dishman

    WE WERE DOWNGRADED OVER THIS LAST YEAR.

    We were downgraded in part because of the statements by TurboTaxTimmy and Obama claiming that we would default if the debt ceiling wasn’t raised. This is not the only option. Failing to make non-debt payments is an option, and constitutionally required.

    I believe that failing to make appropriate debt payments is an impeachable offence. If this Administration chooses to refuse to abide by the Constitution and the Oath of Office, Obama should be impeached and removed.