PrintFebruary 1, 2011
Stop the Fraud -- Freeze the Debt Ceiling
The upcoming battle over raising the debt limit is a microcosm of the fraud that government has become.This Kabuki act is performed every time Federal debt approaches its legal limit. The stage play is always the same: Politicians admit that spending is unsustainable and speak about cuts -- only in generalities and never specifics. The party in power always argues how important it is to increase the debt ceiling. The party out of power argues how doing so is irresponsible. The demagogues in power then warn about world-ending damage if the debt limit is not raised.After this drama plays out, politicians reluctantly (that is their marketing term, not mine) raise the debt ceiling. This political act is then mothballed until the new debt limit is approached. By that time, the protagonists may have changed positions. For example, then-Senator Obama in 2006 voted against raising the limit, stating:The fact that we are here today to debate raising America's debt limit...(Read Full Article)
