Once upon a time, the debt ceiling was a book-keeping measure alone. The law limits how much the federal government can actually spend to meet obligations already authorized by Congress. Yes, read that again. This is not about going on a spending spree, but about paying the bills.
But the GOP has gotten into its head that anything, anything it can do to get its way in Congress is not only legitimate but a political moral imperative. Last time down this road, the GOP shenanigans damaged the credit rating of the United States (with little wonder — if there was a credible threat that someone would stop paying for stuff they'd already agreed to pay, you'd lower their credit rating, too).
And this time we have Lindsay Graham (R-SC) swearing he will block the debt ceiling increase unless poor people aren't "allowed" to retire on Social Security as soon, retirees' SSI payments don't get to keep up with the cost of living, and, yeah, maybe we'll not give Social Security to as many rich people.
If he were a six-year-old who hid Mommy's check book until he got to watch what he wants on TV, he'd be facing a tanned backside. Instead, he gets appearances on Fox News and, in all likelihood, a re-election next time he's up.
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Lindsay Graham: I Will Destroy America’s Solvency Unless The Social Security Retirement Age Is Raised
Although official Washington is currently fixated on the so-called “Fiscal Cliff,” the biggest threat to American prosperity is the debt ceiling, which must be raised in February to prevent economic c…
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If the Democratic Party would show some backbone and put their feet down, draw the line, and say, "No more. You are not doing THIS to the American people," we wouldn't have to deal with this. Or at least not for long, since doing so will suddenly force politicians into black-white contrast rather than some intermediate grey, and we'll quickly see the majority of deficit hawks kicked to the curb in the following election. America will divide fairly evenly when faced with a "lesser of two similar evils," but when faced with a decision of, "choose between the debt and human life, and a failure to choose will doom the country," they will choose the latter.
I'd like to think so, +Gary Roth, but the apocalyptic poison spread from the GOP and their media arm at Fox has been such that a lot of people really seem to believe taxation is theft, social welfare programs are driving us to a Greece-like collapse, and that only inflexible standing on principle can save the republic from the Takers.