Sunday, October 06, 2013

The Next Government Budget Battle

Will be over the debt ceiling.   And it began about two weeks ago. Both Democrats and liberal Republicans (RINO's, anyone?) believe we need to just raise it indefinitely.  So that we can continue to spend and "not default on our debts."

Think about it.  If you maxed out your credit cards, then called one bank and said they HAVE to raise your limit, so you can use it to buy stuff, and oh, yeah, pay the minimum payment on the other card, how would that fly?

But that is what we are doing.

In the mean time Obama's proposed solution:  "give me everything I want, and then I will negociate what more I will take from you, in addition to that."
Before the meeting, Obama had told CNBC that he wasn’t in any mood to negotiate on what he considers to be core responsibilities of Congress and will talk about other issues once the government is open and the debt-limit increase is secured.
“Until we get that done,” Obama said, “we are not going to engage in a series of negotiations.”
There is a plan to just simply "suspend" our debt ceiling for the next year.
Oh, right.
 Like giving a drunken sailor on shore leave an unlimited credit card.
What could possibly go wrong. 

The expected result is another 1100 Billion in debt in the next year. For a total of 17,700 Billion in debt.

Sooner of later the chickens will come home to roost.

Maybe in the form of hyperinflation.

But it could be something else.
We will just have to wait and see.

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