A good debate on the debt ceiling – Applesauce and me
Since Pat used my last post as the basis for his post, I responded, Pat responded and these are the comments thus far:
Ted Biondo says:
I haven’t verified all of your facts Pat at this time but your comment, “Ted Biondo also seems to ignore the fact that Congress has routinely voted in the past to raise the debt ceiling without great controversy — until Barack Obama became president” is not true.
When Bush was president, this is what Senator Obama said when Bush wanted to raise the debt ceiling.
“The problem is that the way Bush has done it in the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5T from the first 42 presidents. No. 43 added $4T by his lonesome. So we now have over $9T of debt that we are going to have to pay back. $30,000 for every man, woman and child. That’s irresponsible, Thats unpatriotic.”
So much for no one making a big deal before Obama was president, our current “unpatriotic president” by his own words, has raised the national debt to $16.4T, almost double what Bush did and Obama did it in 4 years!
Besides Pat, the country can’t keep spending money it doesn’t have! When does it stop? How high does the debt have to go before we default on all the things you mentioned in your post?
All future taxes will be going to the entitlement programs and interest on the national debt. Funds for education, national defense, etc. will be crowded out by the government competing with our own businesses for credit, jobs will decrease, etc.
Our kids will have to pay back our debts by Obama’s own words as a Senator, only now the amount is over $50,000 for each man woman and child. It has to stop and we have to stop it while something can still be done about it. NOW – WHATEVER IT TAKES are the liberals will continue to spend and spend until it’s too late!
Pat Cunningham responded:
Ted: I’ll grant you that Obama’s rhetoric when Bush wanted to raise the debt ceiling seems especially hypocritical today. But then, so is the rhetoric of today’s Republicans. The fact remains that there wasn’t much of a fuss about debt ceiling stuff before Obama became president, despite his own rhetoric when he was a freshman senator.
The fact also remains that breaching the debt ceiling would be a disaster, which is the principal point of my post.
Ted: Two questions:
1. Do you agree that raising the debt ceiling merely allows for honoring debts already incurred by Congress and does not allow Obama to spend anything that hasn’t been approved by Congress.
2. Do you think Congress should refuse to raise the debt ceiling and thereby bring on default?
Ted Biondo says:
Continuing to spend the country into certain default is just as bad, Pat. This deficit spending by both Bush and Obama has got to stop and there’s no time like the present.
Raising the debt ceiling would allow Obama and company to continue to increase spending on other programs getting to the debt ceiling even faster the next time before the existing debt owed was even paid off because O&C would have to borrow more causing the debt to rise even faster and higher.
The debt itself will ultimately bring on the default when no one will loan us money, or if Bernanke keeps printing money to purchase our own debt – Let’s fix it now!
Ted: The government doesn’t spend any money that isn’t appropriated by Congress. The U.S. House, from which spending bills emanate, currently is controlled by Republicans.
Ted Biondo says:
The Senate hasn’t passed a budget which is required by law. not following the Constitution doesn’t seem to bother the Democrats, does it? With no budget, how does Congress, either hous take the responsibility for the presidents uncontrolled spending?
What do you think about letting the debt ceiling default? If we hear from both sides, possibly more facts may be brought out.