Posts Tagged ‘Debt Ceiling’

Apples & Oranges (A-holes & Boehners): The Debt Debate

In a time when the European Union is desperately trying to keep it’s own from defaulting on its debt, the US is willfully approaching a voluntary default.  This gambling with the world economy by the leaders of the free world is a  mockery of the earnest legislatures in the EU. Perhaps flaunting our wealth, then displaying ambivalence towards our most basic economic responsibility, is not the best path towards restoring America’s image.

Lets talk about misconstrued numbers that are in no one’s interest to clarifiy: The Republicans want to match debt ceiling increase with “cuts”.  However, the deficit is the long term accumulated debt consisting of the uneven remainders from the previous years’ budgets.  The republican plan to match deficit reductions with budget cut’s is mixing apples & oranges, without actually saying if all these cuts will indeed produce a balanced budget. If you’re risking putting the US into default, wouldn’t you want to discuss that your plan would keep us from getting back to this position in the future? Wouldn’t that be a big selling point? Only if it were true.

During all of these shannanigans what’s really troublesome to me, is that our leaders are so complacent to wait until we’re on the verge of a crisis to take action, so that they all have an alibi as to why they made such terrible decisions. This outward display of cowardice is undeserving of anyone’s vote.

And then, there’s the tea party. No one believes that a logical house of representives would force the US into default. But that’s the problem, the tea partiers have demonstrated an ideological emphasis over logic since the very conception of the party. In short, they’re crazy enough to do it! The tea-partiers demonstrated their sanity yesterday by not letting Speaker Boehner bring his plan to a vote, thus demonstrating that they are SO conservative that they are unwilling to vote for the most conservative fiscal reform in US history!

So where does this leave us? Well, the Debt ceiling is arbitrary. We could just absolve it, but political posturing is far more important to politicians than the economic validity of the US. So then, we’re stuck with the A-holes and Boehner saying that Obama’s very conservative deficit proposal is too liberal.  Well at least there’s always the Platinum Coin Option, which will be seen as a joke on the world economic stage, but then again, that might just befit the circus that is the US Government.