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July 26, 2011
Do Not Raise The Debt Ceiling! by Colonel Bob Pappas, USMC, Retired
Do Not Raise The Debt Ceiling!
by Colonel Bob Pappas, USMC, Retired
When Obama told us that he would "totally change the economic system;" "totally change America;" and "totally change the world," he wasn't kidding. There has been much speculation that he "doesn't know what he is doing." In a sense they are right, but in one thing they are dead wrong and that is he intends to carry out his promises as they pertain to the country's economic system, its social system and how America fits into the international order. To think otherwise is to ignore the obvious.
Observing the United States of America destroy itself from within is one of the most heart rending, angering, events imaginable, but it is happening. Several years ago, I included sarcastic comments in an essay for the benefit of Osama bin Laden, exhorting him to be patient because all he had to do was wait and the US would destroy itself. Tragically, that sarcastic admonition is in advanced stages of coming to fruition.
The USA, once the economic envy of the world is fast becoming its whipping boy, its laughing stock, and its economic and social black hole. Once the defender of righteousness and good, it is declining into a pit of self-delusion, over-indulgence and Rome; except that it took Rome longer to fall than the length of United States history from its founding, to date.
The International Monetary Fund is based on the U.S. Dollar but if one has been paying attention of late, there have been some heavy weights that have called for a change from the dollar to some other form of international currency. Even light-weight, Islamo-facist Iran made similar calls during the past year. And despite Obama's now comical overtures directly to the Iranian people; his embarrassing "reset" with Russia; whatever gimmick he comes up with for China; his wild inflationary spending, dollar devaluing; financial markets takeover intended to generate pressure for a "total change to the world economic system," Obama voters told voters what he intended, now he is delivering. So, why the surprise?
In an AP article dated March 21, 2009, by Andrew Taylor, "Agenda on Track Despite Worsening Deficits" Taylor explains the projection of Obama Administration multi-trillion dollar deficits as far as the eye can see. Deficits of that magnitude were not caused by the "failed policies of the Bush Administration" about which Democrat Candidate B. Hussein Obama railed with regularity during the 2008 election cycle. Whereas it had its beginning during the Bush Administration, the magnitude and scope of the present crisis is entirely and directly attributable to Obama's initiatives.
Bush Administration deficits were child's play, at $500 billion annually, by comparison to Obama's who in league with the socialists in Congress planned the failed multi-trillion dollar spending spree; which incidentally began with his $787 Billion "Stimulus Bill," followed by the $410 billion Omnibus, earmark-bloated spending Bill. Both of which are on top of the Bush Administrations paltry $138 billion stimulus bill and the $70 billion dollar bailout of Fannie Mae and Freddie Mac, and $30 billion Bear Stearns bailout.
In a laughable moment during a White House Press Conference Obama stated that we would move the economy from "borrow and spend to save and invest," this on the heels of the largest expansion of government spending in history. Of course leftist and RINO "lemmings" lapped it up, but reality is that the statement was made on the heels of ten year projections of multi-trillion dollar deficits. So, either Mr. Obama didn't have a clue, or he was, in a word, "prevaricating." Worse yet, there is plenty of circumstantial evidence that Obama and Democrats intentionally overspent to bring the dollar and economy to bankruptcy so that people will beg for a complete government takeover. And what would such a takeover be called, a bailout; or the advent of totalitarian communism?
Democrats and Obama repeatedly bashed President Bush for his "failed economic policies" for, "tax breaks for the rich," "excessive spending" (if one can believe that coming from Democrats, and the cost of the "unnecessary" War on Terror, albeit we are still at it notwithstanding Obama’s pledge that we would be out within three months of his taking office). Their stated theory was that if the rich had been adequately taxed there would be no need for deficit spending and associated borrowing. They point to the "surplus" from the Clinton years to the deficit in the Bush years to buttress their argument. Additionally, they blame the cost of the War on Terror as contributing to increased deficits and National Debt. If that was the case, why are we still engaged in Iraq and Afghanistan? Heck, he’s even started a third one in Libya. (Aside: No amount of bombing short of a willingness to bomb Libya back to the Stone Age will remove Gaddafi, and even then it will likely not succeed.)
Why are the rich still benefiting from the Bush tax cuts, which Obama now, again, wants to stop, although six months ago he favored extending to save the economy? Wasn’t all this nonsense supposed to stop the moment he took office? Of course that was campaign rhetoric but he does continue working feverishly to "totally change the economic system," this time with another massive incremental increase in the Debt Ceiling.
With the benefit of a "retrospectrascope," it is fact that the downturn in the economy began when Democrats took over the Congress in 2007 after six straight years of economic growth under the Bush White House and Republican Congress. Further, Democrats including Obama voted in favor of the "Bush" stimulus bill and the bailouts for Fannie Mae, Freddie Mac and Bear Sterns albeit those did not ignite the recession, that “miraculous” event was accomplished by the collapse of the housing sector thanks to Congressman Barney Frank and Senator Chris Dodd, both Democrats.
Obama repeatedly blamed President Bush for the "hand he was dealt," which like all good prevarications, contained elements of truth. But from the beginning he didn't divulge that his budget deficit projections were in the trillions of dollars, not for one budget or election cycle, but as far as the economic eye could see. All the while he smoothly intoned that he would cut the deficit in half by the end of his "first" term albeit with any luck at all, there won’t be a second term. It doesn't take a rocket scientist to figure out how he planned to do it.
How could Obama possibly cut the deficit in half by the end of his term? After piling up enormous deficits for several years, all it would take to fulfill his promise to reduce the deficit by half during his first term would be to cut the obscene spending during his last year in office, and Voila! The deficit would be cut in half. Far fetched? Does one think he might be leading up to it in ongoing budget negotiations? Anyone care to bet a dinner for four at Ruth's Chris Steak House? The reason he is resisting so mightily at this time is because the timing isn’t right to achieve the desired effect in the forthcoming elections.
In the event that Obama eventually agrees to cut the quadruple inflated budget in half, he would still be devaluing the dollar at a rate that is more than double that of the Bush years, but will have kept his promise to reduce the budget deficit in half (albeit there has not been a budget for the entire time Obama has been in office thanks to continuing resolutions by Democrats under Pelosi leadership).
The Unites States is on the cusp of a game of political chicken as has never before happened in this Nation. At stake is whether or not the U.S. will be brought to its economic knees by a President and Democrats who are in point of fact working to bring about a socialist/communist state with them in perpetual charge. Or will Republicans and conservatives in the Congress have the spine and skill to stay the course of economic freedom and emerge victorious over tyranny cloaked as populism.
There is plenty of current income for the Federal Government to pay its obligations! THE DEBT CEILING DOES NOT HAVE TO BE RAISED, OBAMA KNOWS IT, GEITHNER KNOWS IT AND ANYONE WHO IS PAYING ATTENTION KNOWS IT! If it goes south without a raise in the Debt Ceiling, it is because Obama chose to do it in the way he prioritized spending. Eliminating the 400 thousand jobs he has added to the Federal Government since he took office would go a long way toward reducing the deficit/addition to the National Debt.
This fight is not about money, it is about changing the character and structure of the United States of America. U.S. citizens who believe in economic freedom should make your thoughts known to your Congressman and Senators! Otherwise, stand by for the fast ride into a Cuba, Russia, China, or some other "workers paradise."
Semper Fidelis.
Bob Pappas
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Wild Thing's comment.......
Good one by the Col..
Ever since Obama won the election our country has been in a socialist spiral and the left has been winning everything they want and none of it is good for our country. I hope and pray people keep calling and, if our side thinks we have gone into apathy like so many used to be ( no one on here but so many others were ) then our elected politicians will cave. They might cave anyway, but we can't give up on this.
....Thank you Mark for sending this to me.
Mark
3rd Mar.Div. 1st Battalion 9th Marine Regiment
1/9 Marines aka The Walking Dead
VN 66-67
Posted by Wild Thing at July 26, 2011 04:48 AM
Comments
Colonel Pappas writes well. This fight is not about money at all. There are greater issues here. The advent of tyranny is always cloaked in populism.
On the immediate matter at hand, I feel the Federal Budget should be rolled back to the fiscal 2007 levels for each and every department as it was appropriated by the 109th Congress, the last time Republicans had majorities in both houses of Congress.
This great run up in profligate deficit spending has been made in the last four years of the 110th and 111th Congresses when Democrats had both houses of Congress and to which most of the current debt is attributable. The numbers are there and undeniable.
Democrats in power have been so reckless and irresponsible that they haven't even done their job and passed a budget. There are no rules for themselves under their rule.
A roll back to 2007 level spending for all departments would be arguably justifiable and fair across the board in all federal spending with no need to raise the debt limit looking forward.
That's my idea of cut, cap, and balance.
There simply must be restraints.
Posted by: Carlos at July 26, 2011 08:09 AM
Carlos,thank you so much. I really like your idea.
Posted by: Wild Thing at July 27, 2011 03:28 AM
