They’re doing it again. House Speaker John Boehner will bring to the floor of the House today, a so-called “clean” debt ceiling Bill. He wouldn’t do this if he didn’t believe he had enough Republican votes along with the Democrats, to pass it.
And so what will it be? $19 Trillion? $19.995 Trillion? No limit at all? And here’s perhaps the key question of all - does it even matter any more?
Yesterday in my studio, one of the GOP candidates for House District 3 in Iowa, was clear. Raising the debt ceiling was essential until cuts could be agreed. He said if we cut a third of the Government overnight, it would lead to an economic meltdown. I don’t agree with that premiss and neither do a whole bunch of economists who are way smarter than me, either.
And this candidate is not alone. On the Senate side, Mark Jacobs also said in my studio that we can’t mess with the credit of the United States - which is EXACTLY what they are doing every time they raise the debt ceiling. Every time we raise it, we tell the world we can’t pay our bills. If we ever say “NO MORE” we tell the world we are serious about paying down our debt.
But if we listen to what these candidates are saying, it comes down to this. We’ll keep raising it until someone turns round and says “we won’t lend you any more money”. Why? Because cuts will never be agreed until someone draws a line in the sand and stops this insanity.
We’ve reached our credit card limit so many times and all we’ve done is increase the limit without any genuine effort to pay it down. This is the responsibility of Republicans and Democrats.
Here’s the bottom line - if the politicians won’t say no, then we the people, have to find it within ourselves to say no. If we don’t, then I’m not sure how we ever get out of this mess which means we might all be better off not worrying about it and talking about exactly how much of Miley Cyrus’s naked rear end will be on display in her latest tour!!