MInTheGap

Standing in the Gap in a Society that's Warring with God.

ObamaCare Funding In Jeopardy if Democrats Choose Tax Increases

August 4th, 2011 Viewed 1964 times

Tax Forms Header

I have to say I’m frustrated.  I think that I would have preferred if the Republicans had just let the ceiling stand.  And I’m not simply talking about the fact that the Dow and S&P are plunging, I’m talking about a matter of principle.  We’ve chosen to spend more than we take in, and going further in debt won’t solve that problem.

Government is worse than a kid in a candy store.  When times are good, government spends more.  When times are bad, government spends more.  And even most of the spending cuts that are in this latest law are scheduled to take place later, not now.

How would this work if this were an average family?  It wouldn’t.

Straight Talk on The Debt Ceiling

July 23rd, 2011 Viewed 2146 times
English: The United States' debt ceiling was r...

English: The United States’ debt ceiling was raised to one trillion dollars for the first time in history on September 30, 1981. Since then, it has been raised an additional $13.2 trillion. This chart tracks the ceiling as of the end of each calendar year. Years are color coded by congressional control and presidential terms highlighted. Data source: http://www.treasurydirect.gov/NP/BPDLogin?application=np (Photo credit: Wikipedia)

You know what really gets me going—the political theater that’s going on in Washington right now.  For weeks I’ve been mulling over this thing, and I’ve come to a few conclusions.

We Should Not Raise the Debt Ceiling

May 6th, 2011 Viewed 1998 times
Wipe our Debt

Wipe our Debt (Photo credit: Images_of_Money)

What would consumers do if they could arbitrarily print money or raise their credit limit every time they got out of debt?  Well, you don’t have to wonder at this hypothetical—the U.S. government is showing you in real-time.

Vox Day addresses two of the main arguments for raising the ceiling:

  1. Not raising the debt ceiling will threaten creditor confidence in the value of U.S. treasuries and they may reduce the amount of U.S. debt they are willing to buy.
  2. The debt ceiling should be raised one last time to extract spending concessions from the Democrats.

He blows both of these arguments out of the water in a recent article.  Well worth the read.

MInTheGap

Standing in the Gap in a Society that's Warring with God.