The Debt Ceiling Cometh
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Thread: The Debt Ceiling Cometh

  1. #1
    Senior Member Gerry Clinchy's Avatar
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    Aug 2007

    Default The Debt Ceiling Cometh

    When he took office, President Reagan promoted a young Michigan congressman, considered a federal budget whiz kid at the time, to head the Office of Management and Budget. David Stockman was convinced that federal spending had to be reduced. I can still recall a famous headline at the time likening him to the Grim Reaper:

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    According to Stockman, the debt ceiling need not be Armageddon as portrayed by the Ds.

    "It is a complete red herring to say there will be a default," he tells us. "There will never will be a time in which there is not enough cash to pay the interest."

    Stockman's no lightweight. He knows the law and encourages House Republican's to call Treasury Secretary Jack Lew's bluff about breaching the debt ceiling. According to Stockman Uncle Sam is collecting $250 billion a month, which leaves plenty of cash for Social Security, Medicare, the armed forces and a host of other things. He also argues that Obamacare should be delayed. Let's face it -- who knows how much that'll cost?
    Quoting Stockman:
    "The fiscal process doesn't work. It's broken and the only way to get the wheels of this thing to stop turning is for a determined minority to grab the bull by the horns. And if they want to call it 'hostage taking' they can use that term but why do people think we can keep adding to the national debt?"
    "Know in your heart that all things are possible. We couldn't conceive of a miracle if none ever happened." -Libby Fudim

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  3. #2
    Senior Member Henlee's Avatar
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    Feb 2013


    Typical response to a R created crisis, there is no problems down here in the hole in the ground into which I stuck my head.
    "Its hard to win an argument with a smart person, but its damn near impossible to win an argument with a stupid person." - Bill Murray

  4. #3
    Senior Member Franco's Avatar
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    Jun 2003
    DuLarge-Dulac-Cocodrie Metroplex, La.


    The Repubs did vote 7 times from 2000 - 2008 to raise the Debt Ceiling. It's not that the Repubs object to or are against running up huge deficits and raising the debt ceiling, they just don't get to spend it where they want to. If either party were serious about deficits and running up the debt, they would be championing a Balanced Budget Amendment. But, the lobbyist won't let them. When a political party lacks ideas and vision, when there is a laedership void like we have had for many years, it's easier for them to just throw money at every problem. As MJH345 said, "fire them all"!
    "All those things bother me: The populism, the lying and the scapegoating and the xenophobia bother me, but then theres a layer of incompetence here. I suppose, in a way, we should be thankful: If he had a coherent ideology, hed probably be more dangerous." P J O'Rourke

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