Sunday, May 29, 2011

Raise the Debt Ceiling Why?

A whole slew of politicians and pundits are harping about how we "have to" raise the debt ceiling (think of it as the national credit card limit - which is currently set at $14.294 trillion!!!) They all act as if the economy will collapse if we don't allow them to borrow more money.

Yeah right.

What they forget to tell us is that if we don't raise the debt ceiling, but instead actually pay off some of the debt, they can still borrow money - as long as the total owed is not over $14.294 trillion. So essentially the debt ceiling is a hard cap.

So why raise it?

I'll tell you why. Our politicians are addicted to spending. That's it. Imagine for a moment that you were so irresponsible that you completely maxed out your credit cards.  Then imagine that you had the power to magically raise your credit limit on your own.  What would you do?  Well, most responsible people would never put themselves in that position in the first place so it’s hard for us to imagine such a thing, but these politicians are not responsible.  They’re like shopaholics who can continually raise their own credit limit!  All they'll ever want is MORE!!!

It's time to put a stop to it. If the debt ceiling is not raised, it will force these money-grubbers to stop the spending spree and start to pay off the massive debt we already owe. Then what we should do is periodically lower the debt ceiling until we get it to zero! 

So I say, any politician who votes to raise the debt ceiling - for any reason - should be currently serving their last term in office.

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