Have you heard the latest? Obama and his pals says that there is no way that we're raising the debt ceiling without also raising taxes $1T. That's a LOT of taxes. All Democrat Congressional talking heads have reiterated that there will be no spending cuts at all, only tax increases. The GOP they will not agree to taxes, only spending cuts, because taxes can't and won't solve a spending problem. Obama refuses to admit the obvious, reportedly saying, "We don't have a spending problem."
Meanwhile, the Republicans in Congress return fire about the debt ceiling, saying that if Obama wants to raise the debt ceiling again, then they had better plan to pass a budget in the Senate as required by law but ignored since 2009. The theory is that if the American people saw how much Democrats want to spend revenue and borrowed money that the American people would be uncomfortable with it. We sure are!
You don't spend $1T over revenue annually by frugality! You don't add nearly $5.5T in only 4 years without a spending problem! Democrats ignore their own spending problems but still blame Bush's more modest spending growth for our problems. They lie.
I'm relieved that the GOP seems prepared to fight, even if it ends up only as posturing in the end. Why? Even with the posturing, the American people will be more aware of the spending problem in the United States. They should realize that no amount of taxation can raise enough revenue for Obama's spending apetite. And they might just support the automatic spending cuts scheduled to take place in March by default.
Obama, ever the masterful politician, is already name-calling and saying that the United States isn't going to default: they'll raise the debt ceiling to pay what they owe. The problem with that statement is subtle and plays to the underinformed voter. Because, you see, it would actually be preferable to default and get some big cuts and reforms out of it than to never get any cuts at all and experience high inflation to boot.
We're broke. The consequences are going to catch up to us eventually. It's better to look them in the face and deal with them responsibly than to keep our heads in the sand.
The media, naturally, will report Obama's plans glowingly and the Republican's plans mockingly. They're just as bullying as the Democrats. I think they've overplayed their hand, though time will tell. More people see the bias and agree with Republicans that we need big spending cuts to save this country and spare our children our folly. A full three quarters of Americans support big cuts across the board.
Watch out, Democrats and media in power. We're on to you.