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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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  2. #2
    Senior Member Henlee's Avatar
    Join Date
    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.
    Ole and Sven are quietly sitting in a boat fishing, chewing and drinking beer when suddenly Sven says, 'I think I'm gonna divorce my wife - she ain't spoke to me in over 2 months.' Ole sips his beer and says, 'Better think it over...women like that are hard to find.'

  3. #3
    Senior Member Franco's Avatar
    Join Date
    Jun 2003
    Lafayette, 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"!
    Collecting more taxes than is absolutely necessary is legalized robbery. Calvin Coolidge

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