And Now, I Argue the OTHER Side of the Debt Ceiling Debate
On Friday morning, I presented the reasons why I feel the GOP has no vested interest in raising the debt ceiling. You can read that post right here.
Now, in the interest of equal time, I shall present the other side of the issue.
Government can not keep borrowing and spending and borrowing and spending. It's unsustainable. That's why the government must put its foot down and NOT raise the debt ceiling.
I say this knowing full well the economic calamity that will follow. But all this borrowing and spending is an addiction. And you don't quit heroin without going through some withdrawal.
Sure, the credit market will dry up as money becomes scarce. Those of us old enough to remember our history lessons remember reading about how the Post WWI Germans would take a million Mark note to the bakery with them so the baker could cut out a slice of bread equal to the size of that million Mark note. Hyperinflation was the rule of the day. But look at Germany now! Sure, they had the Nazis, concentration camps, were almost completely destroyed, but they SURVIVED and just 70 or so years after the commencement of hostilities in World War II, they're a strong country again!
We will survive our hyperinflation as well.
Not raising the debt limit is the PATRIOTIC thing to do! When your children gather around your feet this winter seeking warmth from your body since you can't afford heat, try to warm their souls with the story about how it was NECESSARY to tank the world economy to get America off the drug known as borrowing and spending. Then, when they're outside, peeling the last bits of bark from the trees to fill their empty stomachs, look at your spouse and be PROUD that you were able to kick this addiction without having to resort to raising taxes on the super wealthy or cutting subsidies to oil companies. SURE, putting tax penalties on companies that ship your jobs overseas might SOUND like a good idea, but that's SOCIALIST thinking, my friend. And you're not a Socialist. You're an AMERICAN. And by this winter, you'll be a cold, hungry, PATRIOT!Continued on the next page