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Wednesday, July 27, 2011

Increase the Debt Limit

Source: AP Photo
A couple of years ago, I went to a graduation ceremony to see my nephew graduate from community college. The first 40 minutes or so was taken up by politicians recognizing each other and congratulating each other for their service to the country. I sat in the audience wondering how it was that the audience didn't boo these men and women out of the building. I wondered how it was that the audience bought their BS hook, line, and sinker.

Politicians don't serve the community. They serve themselves. They have perks and privileges that they would never extend to the people they put in office. They zip around in limos and spend their evenings at the Capitol Grille amidst high-priced call girls being wined and dined by lobbyists. They constantly seek their own glory in their pursuit of sound bites on the evening news. And they govern badly. Very badly.

The fiasco with the debt limit is just the latest example. The hang-up is what got us into the present difficulties in the first place. Washington doesn't vote on the merits of legislation. Instead, they vote for your project if you'll vote for theirs. You "buy" your vote for a boondoggle waste of tax payer funds by promising to vote for their "bridge to nowhere." And so it goes. Today the increase in the debt limit, which failure could lower our debt rating and scare our creditors, is hung up by other legislation which includes features extremists in both parties refuse to accept.

Warren Buffett has said there shouldn't even be a debt limit, and he is right. The problem is that we are dealing with egotists who use the debt limit as a prop to express their outrage at the wasteful spending in Washington as they go about business as usual.  And so we have it - a stalemate that could potentially cost the country dearly. 

Let's increase the debt limit. Do what it takes. Even if it takes the President invoking the 14th amendment. Then take up the issue of taxation and spending. Let's try something different - let's try responsible governing.


  1. I agree with you that the debt limit is a ridiculous political stunt that serves no purpose other than to make we the people seem even more beholding to politicians. However, I think the risk of our debt being downgraded is real whether the debt ceiling is lifted or not. We'll just how much guts the credit agencies to take this step since one of the masterstrokes of Dodd-Frank financial reform package was to place those agencies under direct government supervision at the SEC.

  2. They do this posturing every single time! Retards.

  3. It's the same everywhere. Politicians are only good during the campaign period. If America falls everything will be in shambles.