Tag Archive: Debt Ceiling

Yes, the Debt Ceiling Matters

There is an effort on to pretend the debt ceiling is no big deal. We won’t default, they say, because Obama can simply re-direct spending to make sure our debts get paid. Why, hitting the debt ceiling could be a good thing, forcing the government to live within its means and balancing the budget in one fell stroke.

There are multiple problems with this line of thought, the primary one being that this would … Read more

The Debt Ceiling … Again

I think I’ve made my contempt for Obamacare pretty clear. I’ve pointed out its deep flaws, its underestimated expenses, its dubious Constitutionality. In my more cynical moments, I wonder if its flaws aren’t the point: to make the system so much worse that people will demand socialized medicine. We’re already seeing employers shed insurance and rates go up. It’s been hitting me personally as my employer has had to raise insurance rates because of increasing … Read more

IOU Nothing

I won’t waste much time on this. A new alternative has been proposed to the $1 trillion coin that is, if anything sillier. It’s that the government should just issue IOU’s. Seriously:

Congressional Republicans have said they will demand immense cuts to popular government programs in exchange for agreeing to raise the nation’s authorized borrowing limit of $16.4 trillion.

Stop right there. I highlighted this sentence in just to show you the author’s delusions. … Read more

Boehner Flinches from the Abyss

So for all of the stress, the House GOP leadership (including Paul Ryan), a minority of Republican Congressmen, and a majority of Democrats
passed the tax deal they were offered by the Senate. The Rich (less than 1% of the population) got tagged with a 4.6% increase (horrors!) and caps were placed on deductions, among other meaningless items.

I suppose it is palatable since we have at least gotten the remainder of Bush’s tax cuts … Read more

Boehner Stays on Defense

Rep. Boehner apparently misinterpreted conservative demands that he toughen it out on fiscal cliff negotiations.  He came out with a very short press release this morning and did nothing more than tell Obama to take  or leave the GOP’s plan or come up with his own.

I disagree with this approach (yeah, I rarely cut Boehner any slack).  It’s not the President’s job to propose this, it’s Congress’s and specifically the House of Representatives.  Boehner … Read more

Comedic Reality

Thelonious Munk (yeah, I never heard of him either) has a few choice words about our president and his ability to manage the country’s finances:

His first mistake, thinking those Harvard/Yale types are our “Best and Brightest”.

Thelonious is taking his show on the road, and such is earning income, which means he is a tax payer so he has every right in the world to rail at how his tax money is being spent. … Read more

In Your Court, Harry

The Boehner bill barely passed the House. It’s now up to Harry Reid to pass his plan. Then, hopefully, a reconciliation bill will move us forward.

Ignore the media hype about “slashing” spending. This is only binding on … well, never.

Update: The Boehner bill went down in the Senate. That was fast. Now Reid wants a vote on his bill by the GOP is going to filibuster. You can probably guess my reaction … Read more

Driving Toward the Glass Ceiling

I’m happy that the GOP has held out on the debt ceiling and continues to hold out for more budgetary discipline. But there are rumblings right now that have me very worried. They have broken off talks with the Democrats and are balking at any revenue increases at all. And a substantial part of the base seems to think that hitting the debt ceiling is preferable to the deal that is currently on the table.… Read more