U.S. Federal Debt Ceiling Debacle
Posted by Tommy Garrett on Jul 24, 2011 - 8:18:32 PM
WASHINGTON, D.C.—As the U.S. government’s debt ceiling looms throughout the halls of the White House and the Capitol, American politicians realize that their political careers as national leaders will crumble just as quickly as the nation’s economy if they give the American people exactly what they want and do not raise the debt ceiling. However, both parties have made this stalemate possible. They both served only a small narrow constituency to which they owe their power and loyalty, and now the broader and greater good of the nation is in peril; which will also hasten on the downfall of other economies around the world.
Americans decry, “Do not raise the debt ceiling.” However, like most political issues, they don’t realize what they are asking for or what it is truly all about. The current battle over the debt ceiling has almost no basis for future spending. It is what we have already spent over the past 10 years, including wars, unfunded tax cuts and the Medicare Prescription Drug Act that President George Walker Bush lobbied for, asked Congress to write and that he signed into legislation. Yes, President Obama has also continued in the past three years to spend taxpayers’ money without any thought about this looming disaster we all face. The amount of money that the U.S. government has been spending since President Reagan has been staggering. Reagan and his administration raised our federal deficit from $800 billion when he took office in 1980 to a stifling $3 trillion federal deficit when he left office. Since his term ended, it has always been the way all of his successors to buy the American people’s support. We never understood until now that what these politicians give us is not free. We ultimately are the payers of their debt and political posturing.
Congress is actually the reason most of the waste and overspending has existed. The Democratic Party, which was in the crosshairs this week, is really what this should be about. Last week, I chronicled the deceitful enterprise by the Republican Party to not only pander to racists and bigots, but to utilize their best propaganda machine. And no, their propaganda machine is not Fox News, but former House Speaker Newt Gingrich, who spearheaded and frightened the party faithful into believing the president was a Muslim, an unwelcome and unworthy occupant of the Oval Office and even hinted that he was not a U.S. citizen, but a Kenyan-born secret agent for the terrorists. The release of both a short and long-form copy of a birth certificate and the death of Osama bin Laden managed to squelch that chatter, but the damage to American politics and the youth’s naÃ¯ve view of the Republican Party has been done.
The Democratic Party is now wrongly claiming moral authority and the high ground in this debt ceiling debate, when its members have engaged in what they do best as well: incite class warfare. From the president to Senate Majority Leader Harry Reid and former Speaker of the House Nancy Pelosi, they all use the phrase, “Republicans are trying to protect the millionaires and billionaires from paying taxes.” While not racially-motivated, it is motivated to pit poor and middle class Americans against the wealthy for reasons that the democrats have always found to be ultimately successful in the past. What has changed, however, is the fact that Americans are tired of being pit against others over fear mongering, and the Democrats just use people’s economic class and their zip codes to create hatred instead of what the Republicans use, which is race and ethnicity. While one is morally reprehensible, the other is also extremely wrong.
Americans have been brainwashed by Democrats in the past into believing that the rich owe everyone else what they have worked for. Despite the fact that most wealthy people who earned their own fortunes tend to work longer hours, put in less vacation time and, for whatever reason, sometimes just utilizing pure genius, but they manage to utilize their talents and determination to build wealth at a greater level than most others. That should not be penalized in our country by higher taxes. What Democrats refuse to see, and therefore are unable to convey, is that the problem with revenue currently being down in the U.S. government’s treasury is because taxes are actually too high. Yes, as crazy as that sounds, if politicians would stop bickering, and yes, both sides engage in the same behavior, they would be able to see that lowering taxes and closing loopholes within the tax system would inevitably raise government revenues, and in the immediate, the deficit would come down and unemployment would also drop.
Surely we would still have to come to some serious discussions about our entitlement programs, which include Franklin D. Roosevelt’s Social Security entitlement, Lyndon B. Johnson’s Medicare entitlement and the even more expensive and unfunded Medicare Prescription plan by George Walker Bush. Americans just received another expensive entitlement over the past three years called federal healthcare mandate, which will also add to and will not be subtracted from the federal deficit in the future.
The idea of throwing the current lawmakers out is almost as scary as the fact that Americans in the 2010 midterm elections voted into office members whose main mission was to be obstructionists to any type of legislation this administration put forward. Three years after the worst recession since the Great Depression over 80 years ago, we face a nation that is gripped in partisanship and a federal system that is spending too much and officially broken.
God bless and protect our troops in Afghanistan and Iraq, who fight on a daily basis on the frontlines of the war on terror.
Serving Bel Air, Benedict Canyon, Beverly Hills. Brentwood, Laurel Canyon, Los Feliz, Malibu, Pacific Palisades, Melrose, Santa Monica, Sherman Oaks, Studio City, Topanga, Canyon, Westwood & Hollywood Hills.