Posted on 01/02/2011 9:59:23 AM PST by Libloather
Obama aide: Don't 'play chicken' with debt ceiling
The Associated Press
Sunday, January 2, 2011; 10:48 AM
WASHINGTON -- The top White House economic adviser is warning against what he calls "playing chicken" with the need to raise the nation's debt ceiling.
For some conservatives, refusing to raise the limit on the federal debt would be a tactic to force the government into cutting spending.
Last February, Congress raised the debt ceiling to $14.3 trillion. The debt is now at nearly $13.9 trillion and growing each day. A move to raise the ceiling again is expected this spring.
(Excerpt) Read more at washingtonpost.com ...
Should I say “Pot calls kettle black”? Or would that be racist?
The left setting up cover for the RINOS.
I prefer “Nana nana boo boo, stick your head in doo doo, you can’t catch me!”
The heck with this Obama idiot appointee. Cut the federal budget to ribbons!!! Kill any Obama “stash” that goes to the worthless and lazy destroyers of our economy!!! Make “em go out and work. No jobs, you say??? Cut off their free handouts and you will see how quickly they find work!!! Also, abolish all public service unions except “first responders”!!! Layoff 20% of all government workers. You will never notice the difference. Then, ladies & gentlemen, watch our economy grow with private sector jobs, right here in the USA!!! Better wise up, America!!! Our great country is dying right before your eyes!!!
Its too bad the RINO’s are still in charge. Otherwise the new GOP House leader would have already made it clear that the debt ceiling won’t be raised.
Defund, defund, and defund. Repeat.
And the ‘pubbies should listen to this guy because of the great work the Barky administration has done with the economy and spending? I do not understand why anybody should pay any mind to what the always wrong marxist morons Barky surrounds himself with think about anything.
Right, they’re the responsible grownups.
And when I look down at the sky it is a nice greenish color.
“Playing chicken?”
Adolescent thinking inspires adolescent comments.
This guy must be an OLD adolescent. Lol!
America's Founders knew that, because they were learned persons who were passionate about individual liberty and how to preserve it.
"To preserve [the] independence [of the people,] we must not let our rulers load us with perpetual debt. We must make our election between economy and liberty, or profusion and servitude. If we run into such debts as that we must be taxed in our meat and in our drink, in our necessaries and our comforts, in our labors and our amusements, for our callings and our creeds, as the people of England are, our people, like them, must come to labor sixteen hours in the twenty-four, give the earnings of fifteen of these to the government for their debts and daily expenses, and the sixteenth being insufficient to afford us bread, we must live, as they now do, on oatmeal and potatoes, have no time to think, no means of calling the mismanagers to account, but be glad to obtain subsistence by hiring ourselves to rivet their chains on the necks of our fellow-sufferers." --Thomas Jefferson to Samuel Kercheval, 1816. ME 15:39
"I deem [this one of] the essential principles of our government and consequently [one] which ought to shape its administration:... The honest payment of our debts and sacred preservation of the public faith." --Thomas Jefferson: 1st Inaugural, 1801. ME 3:322
"I sincerely believe... that the principle of spending money to be paid by posterity under the name of funding is but swindling futurity on a large scale." --Thomas Jefferson to John Taylor, 1816. ME 15:23
"[With the decline of society] begins, indeed, the bellum omnium in omnia [war of all against all], which some philosophers observing to be so general in this world, have mistaken it for the natural, instead of the abusive state of man. And the fore horse of this frightful team is public debt. Taxation follows that, and in its train wretchedness and oppression." --Thomas Jefferson to Samuel Kercheval, 1816. ME 15:40
That the Obama Administration can view those who might take a stand on stopping the madness of debt and deficit as "playing chicken" reveals the shallowness of their intellect and their total disregard of human liberty. Their counterfeit vision of a Marxian Utopia is the same claim to "doing good" that all tyrants have utilized to enslave citizens. Hear John Adams on that subject:
John Adams to Thomas Jefferson, February 2, 1816:
"Power always thinks it has a great soul, and vast views, beyond the comprehension of the weak; and that it is doing God service, when it is violating all His laws. Our passions, ambition, avarice, love, resentment, etc., possess so much metaphysical subtlety, and so much overpowering eloquence, that they insinuate themselves into the understanding and the conscience, and convert both to their party."
Screw this. Let the dice roll. Stop funding their madness. Let them and their urban constituency take the hit.
What will they give use for raising the debt ceiling? At least it aught to be worth getting rid of the Department of Education, HUD, Department of Energy, opening up more BLM land to oil exploration, ANWR, cutting NPR and the National Endowment of the Arts, and Big Ag subsidies for ethanol,, to name a few.
The debt ceiling will be raised, just as the tax cuts were extended. All that is required is a little caterwauling prior to the vote. Is their an Intrade bet on this? I could use some easy money.
We can’t solve 50 years of overspending and undertaxing overnight. Returning to some semblance of national solvency will take time, as in about 10-12 years. This will happen over time as bondholders start to squeeze the borrowers.
If government shut down, would normal, decent, hardworking, traditional American families even notice?
No, I didn’t think so.
Isn’t it so nice and helpful of them to so clearly signal what they fear?
When the spenders are the same folks as the ones in charge of making the fiscal rules, the result is the current screwed up mess.
Keep the debt ceiling where it is. Let’s see the fall out.
Time for the pubbies to show some guts if they are going to convince the tea party folks their votes weren’t wasted...
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