By Carole on Jul 30, 2011
It's obvious from the concessions made by President Barack Obama and Congressional Democrats that they cannot make a reasonable case for their various positions on raising the debt ceiling. Mr. Obama keeps scolding his political opposition, demonizing Americans who already pay the lion's share of federal taxes and threatening our most vulnerable citizens with starvation and homelessness; but he and his Congressional accomplices can not explain why higher taxes, more borrowing and more government spending would improve the economic health of the country.
The Republicans case for significant spending cuts, keeping tax rates at their current levels and promoting a balanced budget has been clearly made by both Republican lawmakers and the common sense of the American people. The simple application of second grade arithmetic proves that entitlement programs like Social Security and Medicare are unsustainable without serious reform. Raising taxes on those who create jobs and invest in the economy may help a candidate who is running on a platform of class warfare, but it virtually guarantees the continued downward spiral of our economy. And as most American families and many US states already know, living within your means is not only a sound financial principal, it is vital to keep wasteful spending under control.
It's also easy to understand why the two-step process of raising the debt ceiling as outlined in the bill passed by the House on Friday is the fiscally responsible approach. The current administration has a proven track record of spending obscene amounts of taxpayers' money with little or no results. President Obama's promise that the $800 billion stimulus would keep the unemployment rate below 8% coupled with our current 9.2% unemployment rate is glaring evidence that, especially when it comes to economic policy, he doesn't know what he's doing. Giving in to his demand to allow unchecked continued borrowing for another year and a half would be congressional malpractice.
Meanwhile, the president and Congressional Democrats keep giving in on other demands as each of their arguments prove to be at best invalid and at worst blatant lies. They have fear mongered over a bogus default until forced to admit the government will take in enough revenue to service our debt. They have threatened that Social Security checks may not go out until, again, it became common knowledge that there would be plenty of revenue to meet that obligation (as well as those to Medicare, the military and more). They are now claiming that the only way to save our nation's triple-A credit rating is to pass their latest plan but the rating agencies have clearly stated that would not prevent a potential downgrade.
So the only remaining argument from the left is that the Republicans are refusing to compromise which would mean passing a bill they know is wrong for the country so that a failed president can keep on failing. Hopefully Obama & Company will lose that one too.
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