Recently the national political news has been debating this question to some extent. I understand that there are several differing opinions on the matter. One being that the government must continue to barrow money in order to run as it currently exist. Another, that the government must be fiscally responsible and not spend more than its revenue.
The news recently came to light that Obama in 2006 voted against raising the debt limit while Bush was in office. This was simply a political vote for him at the time as the conventional wisdom in Washington is that no matter who is in power that the debt ceiling will be raised regardless. This also makes sense as well, because who would voluntarily limit the amount of money they have to spend? The debate really isn't about the debt limit itself. The republican held House is simply using this as a political tool in order implement policy that is inline with there ideology.
I suspect that the debt limit will be raised but with some policy riders the Republicans desire to have. It will likely have something to do with funding of Planned Parenthood and some other miscellaneous social programs that conservatives don't agree with. So in the end the debate will be really about "what are we gonna get if you get to continue to spend money without regard to responsible fiscal policy?".
I have a novel idea how about we don't raise the Debt Ceiling because it's the responsible thing to do. I personally don't agree with a lot of the Right has to say nor do I the Left. Both parties have lost touch with reality and are perusing there own ends according to what they think is right. The reality is that I don't empty my checking account buying eye candy and when out of cash max out my credit cards and then apply for new ones each month. I have to use the money I work for in a responsible way or I begin to suffer negative impacts.
Currently the Treasury Secretary Tim Geithner says that the borrowed money will be spent by May 16th. Okay so here is a question. What happened to the $800 billion we gave to big corporations during the bailout? Dot the tax payers get that money back? It wasn't the governments money to give away, it never is. Will that money help give the government a buffer to restructure it's spending habits?
Here is the bottom line, from the current look of thing nothing has really changed. Both sides are still operating under the same old tired ideals. The Democrats desire to tax the rich and spend it on failed programs that are supposed to help the poor and disenfranchised. The Republicans wish to shrink and remove government regulation the hinders large corporations from making more money. I say choose the hard and difficult thing. Don't apply for another credit card cause it's only coming back to bite us, the people who actually pay the bills around here.
The news recently came to light that Obama in 2006 voted against raising the debt limit while Bush was in office. This was simply a political vote for him at the time as the conventional wisdom in Washington is that no matter who is in power that the debt ceiling will be raised regardless. This also makes sense as well, because who would voluntarily limit the amount of money they have to spend? The debate really isn't about the debt limit itself. The republican held House is simply using this as a political tool in order implement policy that is inline with there ideology.
I suspect that the debt limit will be raised but with some policy riders the Republicans desire to have. It will likely have something to do with funding of Planned Parenthood and some other miscellaneous social programs that conservatives don't agree with. So in the end the debate will be really about "what are we gonna get if you get to continue to spend money without regard to responsible fiscal policy?".
I have a novel idea how about we don't raise the Debt Ceiling because it's the responsible thing to do. I personally don't agree with a lot of the Right has to say nor do I the Left. Both parties have lost touch with reality and are perusing there own ends according to what they think is right. The reality is that I don't empty my checking account buying eye candy and when out of cash max out my credit cards and then apply for new ones each month. I have to use the money I work for in a responsible way or I begin to suffer negative impacts.
Currently the Treasury Secretary Tim Geithner says that the borrowed money will be spent by May 16th. Okay so here is a question. What happened to the $800 billion we gave to big corporations during the bailout? Dot the tax payers get that money back? It wasn't the governments money to give away, it never is. Will that money help give the government a buffer to restructure it's spending habits?
Here is the bottom line, from the current look of thing nothing has really changed. Both sides are still operating under the same old tired ideals. The Democrats desire to tax the rich and spend it on failed programs that are supposed to help the poor and disenfranchised. The Republicans wish to shrink and remove government regulation the hinders large corporations from making more money. I say choose the hard and difficult thing. Don't apply for another credit card cause it's only coming back to bite us, the people who actually pay the bills around here.
No comments:
Post a Comment