[marron]

Under no circumstances can we raise the debt limit, and under no circumstances can we deliver anything other than a balanced budget to the president. He can refuse to sign it, but we have to give it to him.

To do anything else will mean we’ve bought the Obama deficits and have made them our own.

And, as a practical matter, if you can’t cut spending when you are bankrupt and facing economic collapse, there really is no hope for you.

[kabar]

Here is the reality. We take in about $2.2 trillion in tax revenue from all sources. This just covers our entitlement spending and debt servicing costs. Our total budget is $3.5 trillion. The remaining $1.3 trillion to operate the entire government, including DOD, is borrowed.

So how do you balance the budget this year or next? We will have to raise our debt ceiling regardless. We need a long term plan to cut spending, but it will not happen overnight.

[MontaniSemperLiberi]

“To do anything else will mean we’ve bought the Obama deficits and have made them our own.”

Amen!