Congress has just raised the federal debt “ceiling” to $14.3 trillion.
Yes, it’s called a “ceiling,” though I cannot recall seeing any other ceiling so adjustable.
The Associated Press reassures us: The new ceiling means that congressmen won’t have to pass an even higher ceiling until after November. According to the AP, if Congress had to raise the debt limit too close to the election, this would “[feed] a sense among voters that the government is spending too much and putting future generations under a mountain of debt to do it.”
“Feed a sense”? Yes, committing fiscal crime in broad daylight might serve to “feed a sense” that the crime is in fact being committed.
Meanwhile, Moody’s, the Wall Street credit agency, warns that the U.S. is at risk of losing its triple-A credit rating. The federal government must stop its fashionable trillion-dollar annual deficits. But Moody’s also proclaims to understand why the government has run these trillion-dollar deficits. Seeing as how we’re in a recession, it would be politically tough to trim budgets right now.
Let me get this straight. If you’ve been taking on way too much debt, the best solution to the problem is to borrow money even faster and even more irresponsibly? But only for now? Then kick the habit later . . . when it’s suddenly real easy?
No, I don’t think so. Try again, Moody’s.
This is Common Sense. I’m Paul Jacob.
2 replies on “A Deficit of Common Sense”
Americans might see Obama’s financial misadventures as “failures,” where he considers them either a success or a slight delay in his longer-term scheme. Hopefully, this scheme will only extend to one term in office.
Presumably, a good portion of his “base” will be unemployed by the next prez election, while union members are not a huge majority of American workers… although one suspects that they are a higher percentage now than when Obama came into office. But unions now have not only organized crime accessing their pension funds, but Obama as well. Given the choice between the two, the rational choice would be organized crime! They don’t HAVE to lie.
A majority of Americans must decide whether they want what Obama and his radical friends want… or what a majority of Americans want. I suspect that these are two entirely different universes.
Another great take on the “progressives’” insidious and systemically-incremental attack on our beloved fraternal republic and on American Exceptionalism.
First own, operate and control the language, the “schools,” the media, the banks, Wall Street and then the “credit-rating” agencies.
Next thing we know even major player in all of this, New York’s top stand-over and shake down thug … um … attorney-general … um … governor, will turn out to be but a whore.
Or, as Common Sense might inform, something close to one.
Brian Richard Allen
Lost Angeles – Califobambicated 90028
And the Very far Abroad