DEBT CEILING

I suppose we’re going to watch another battle of political wills come down to the wire. Once again the country is portrayed as being in a situation which requires drastic steps or a major catastrophe will occur. The current crisis is the debt ceiling. Once again, after spastic spending by those in Washington, there is the need to raise the debt limit so that we can go farther into debt… in order to pay our debt. It sounds like what happens to some with credit cards. Anyway, all these wonderful programs that the government thinks we have to have are being funded by borrowed money. We don’t really own our programs; the Chinese own most of them. The government never has enough money and never has an end to ways of spending money. It’s just like us only we can’t tax someone to account for our spending problems. A lot of people have been warning Washington about its reckless spending for a very long time. Our debt amount is a real threat to the solvency of this nation. Increasing taxes does nothing to discipline their spending habit. It just gives them more money to spend. Thus the cycle continues: Tax and spend.