More hypocrisy: the raising of the federal debt ceiling
Two weeks ago when the Congress agreed to raise the debt ceiling another $1.9 trillion dollars all I could do is shake my head.
Yes, Mr Obama and the current Congress is way out of control and heading in the direction of the destruction of the dollar and the future banana republic of America, but this is by no means a new phenomona.
During the Bush era alone the debt ceiling was raised at least a half a dozen times.
photo/ Gerd Altmann
And more hypocrisy. The Republican-led Congress had no problem voting for increases in the debt ceiling, many are the same that are correctly criticizing Obama and Pelosi now. It was so horrible that Republican representative Tom Reynolds of New York said on the house floor, “If you don’t vote for it, you’re putting the government in harm’s way.” Why, Mr Reynolds would we be putting America in harm’s way? STOP SPENDING more that you take in! That’s what is putting America in harm’s way.
But the hypocrisy goes both ways. When Bush was president, ranking minority member of the House Ways and Means Committee, Charlie Rangel, democrat from New York said “Don’t get us involved in any more debt unless you have some kind of a cockamamie plan to get us out of the debt you put us in”. I can’t hear you now Charlie!
Shouldn’t you be even more concerned with the latest numbers and a plan to get us out of this current debt?
Well, this has been an issue long before the disastrous spending and economic policies of Bush and Obama and their respective Congress'(they just put it into turbo since 2000!)
Since 1960, the federal debt ceiling was raised an astounding 70 times! It didn’t matter who was president or which party was in power in the Congress.
No matter if the Republicans or the Democrats are in charge, one thing is for certain; they will keep on spending, borrowing and printing money and they will continue to raise the debt ceiling.
You don’t think our bankers in China, Japan and Saudi Arabia are keeping a close eye on our recklessness? We are going to be in a world of hurt when we get cut off by the Chinese when they finally decide we are too much of a risk.
Shame on all of you in Washington. The raising of debt ceiling is one of the most immoral and destructive things you can do, and you do it with such ease. Scary.
