Wednesday, August 03, 2011
Washington, Listen to Yourselves
President Obama said it in his address to the nation, the one that was followed by Speaker Boehner’s response. I have heard Obama’s claim repeated by other Democratic politicians. I haven’t researched the truth of it myself, but for now I’m going to believe it. It goes something like this.
Hello, Mr. President and Congress, listen to what you are saying! In the 26 years covered by the administrations listed above the debt ceiling was raised 36 times. Doesn’t that give you cause for concern? Doesn’t that tell you that the entire system is broken? How can a debtor go out and get his credit limit raised 36 times in 26 years?
I had a family member do pretty much the same thing. He borrowed heavily to finance his small business. Through a combination of difficult business conditions, government regulation, and health issues, he lost his business to bankruptcy. He convinced others to finance a return of his business. That business faced the same conditions, and five years later was on the verge of bankruptcy. He convinced his son to buy his property as a way of rescuing the business. The business failed again. To float the business he took out a credit card in his son's name and maxed it out. He did that again, and again, for a total of five times. He borrowed payments from individuals. Finally with all his resources and sources gone, the bank seized the property from the son, who had to declare bankruptcy. Thus the son is off the hook, the father will shortly be homeless, and the bank’s owners have had to pick up at least some of the tab.
I realize using a personal situation is not quite the same thing as a government. The person can’t print money. On the other hand, the person can go out and get a second job. The person can easily cut spending and quit destructive behavior with immediate decisions. Large governments can’t do that. Large governments, representing a large citizenry, have to operate on the herd mentality. Until the herd quits its destructive behavior or goes over the cliff en mass, not much can be done.
I believe, however, that the frequent requests to and acquiescence in raising the debt ceiling is evidence that we are headed for destruction. Obama’s words, as repeated by his various lackeys, prove it. Congress, you are out of your minds. Thank God for those few among your moronic membership who dared to call you on your madness. May their tribe increase.
- During the Reagan administration, Congress raised the debt ceiling 18 times.
- During the Clinton administration, Congress raised the debt ceiling 8 times.
- During the GW Bush administration, Congress raised the debt ceiling 9 times.
- Why then is Congress balking at raising the debt ceiling this time?
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