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I called Dave Camp's DC office the other night hoping to offer a suggestion.
It was to NOT allow the debt ceiling to increase.
It is the most basic and simple fix for the problem known as Obama, that exists today. It is a "defacto" balanced budget amendment, and a cure for inflationary spending that follows the president through to the end of his political career in 2012.
Why on earth would Republicans give an inch to this megalomaniac is beyond me. And given the unlikely scenario of GDP growth in the next few years as a result of Obama policies, chasing the Debt higher is not something sane people would do, UNLESS they were trying to crash the economy.
In all this however the basic question must be asked, what is the purpose of debt?
Why does one borrow? Is it so that they can perpetually carry a liability that they do not plan on paying? Or is it a temporary measure, that merely carries through cycles that have expected ends. All too easily the latter must be assumed to be the ideal answer. And now as our substance is already being eaten by interest and mismanagement of tax revenues, it is assumed by some that mismanaging even more has some logic to it. No logical explanation can be made to support more debt going forward, ESPECIALLY now that is it clear the downgrade of credit decision has already been made.
".. But according to most experts, Standard & Poor's and/or Moody's will be lowering their rating regardless of the outcome, which means climbing interest rates and more difficulty securing loans -- not to mention a very volatile stock market."
To those conservatives hanging in there contrary to Boehner's current plan, I salute you. Now, I think I will call again.
(10 comments) Comments >>
Cross-posted at Michigan Blogger.
On Tuesday, the House of Representatives, in their infinite and omnipotent wisdom, passed the "cash for clunkers" bill, aiming to boost new auto sales by giving up to $4,500 in rebates, for turning in gas-guzzlers.
Funny thing is ... even the Detroit Free Press says it won't work:
(1 comment, 524 words in story) Full Story
External FeedsMetro/State News RSS from The Detroit News
+ Craig: Cushingberry tried twice to elude police, was given preferential treatment
+ Detroit police arrest man suspected of burning women with blowtorch
+ Fouts rips video as 'scurrilous,' defends Chicago trip with secretary
+ Wind, winter weather hammer state from Mackinac Bridge to southeast Mich.
+ Detroit Cass Tech QB Campbell expected to be released from custody Friday
+ New water rates range from -16% to +14%; see change by community
+ Detroit's bankruptcy gets controversial turn in new Honda ad
+ Royal Oak Twp., Highland Park in financial emergency, review panels find
+ Grosse Ile Twp. leads list of Michigan's 10 safest cities
+ Wayne Co. sex crimes backlog grows after funding feud idles Internet Crime Unit
+ Judge upholds 41-60 year sentence of man guilty in Detroit firefighter's death
+ Detroit man robbed, shot in alley on west side
+ Fire at Detroit motel forces evacuation of guests
+ Survivors recount Syrian war toll at Bloomfield Hills event
+ Blacks slain in Michigan at 3rd-highest rate in US
Politics RSS from The Detroit News
+ Apologetic Agema admits errors but won't resign
+ Snyder: Reform 'dumb' rules to allow more immigrants to work in Detroit
+ GOP leaders shorten presidential nominating season
+ Dems: Another 12,600 Michiganians lose extended jobless benefits
+ Mike Huckabee's comments on birth control gift for Dems
+ Granholm to co-chair pro-Clinton PAC for president
+ Republican panel approves tougher penalties for unauthorized early primary states
+ Michigan seeks visas to lure immigrants to Detroit
+ Peters raises $1M-plus for third straight quarter in Senate bid
+ Bill would let lawyers opt out of Michigan state bar
+ Michigan lawmakers launch more bills against sex trade
+ Balanced budget amendment initiative gets a jumpstart
+ Feds subpoena Christie's campaign, GOP
+ Poll: At Obama's 5-year point, few see a turnaround
+ Obama to release 2015 budget March 4
Sunday January 19th
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Thursday January 16th