Thursday, April 21, 2011

This'n'That; April Twenty-First #3; Debt Ceiling

Here We Go With Another 'Emergency!!'
     First we had President Bush signing onto the TARP legislation forced through Congress by the fascist majority-the banks had to be bailed out immediately or the world as we knew it, would implode into a black hole somewhere out there in the universe! 
Then we had the $787Billion PORKulus legislation forced through Congress by the fascist majority-the economy had to be saved, jobs had to be created and unemployment levels had to be reduced or the world as we knew it, would implode into a black hole somewhere out there in the universe!
Then we had the fictitious tax cuts that were nothing more than a continuation of the 'Bush era' tax rates, begrudgingly agreed to by the "Clown Prince!"
Then we had the on-going 'continuing resolutions' to fund the government for  a coupl'a weeks at a time, compromised upon by a republicRAT House majority, ignoring the 'Tea Party' mandate that swept them into office.
Now we have the raising of the debt ceiling or--again--the world as we know it will collapse into a black hole somewhere out there in the universe.
    Everything the current regime does is defined as an 'emergency' so grevious that the entire (insert name here) sector will collapse unless more money is thrown at it.  The debt ceiling is nothing more than a quasi-balanced budget action, just approached backward.  Rather than yours and my budget, where we cut spending to arrive at a financial balance; the federal government just raises the limit towhich they can spend; just bass-ackward of the real world approach!!  Realistically, it has the same emergency level as your wife/girlfriend chipping her nail polish!!  It's a load'a crap!!
    What happens if the ceiling is not raised?  Not much, if anything.  The Treasury has money coming in every day from various taxes, tariffs and fees.  The Treasury--with current cash on hand--can fund operations for a couple of months beyond the arrival at the ceiling.  If all else fails, the Treasury will just 'monetize the debt;' print more money!
    If--and I repeat: If--the republicRATs in the House want to return to their cushy career part-time jobs, they'll refuse to raise the debt ceiling for any reason!  They will force owe-bama to yet again, cave in to the 'Tea Party' mindset: Reduce Spending; as he did with the 'Bush era' tax rates; as he did with the alleged budget compromises!!  Just like you and I, the "Clown Prince" would be forced to reduce spending in all categories to stay under the current ceiling.  Think the House will refuse?!?
Til Nex'Time....

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