(no subject)
The way I see it, we have two choices.
First, we can blink, and let Obama ram our economy up the backside with more debt, more spending, and more distortion of the citizen-government relationship.
Second, we can call his bluff and get instant spending cuts on August 2nd. We've got the money to service the debt; pay social security, mediscare, and military pay; plus have enough to run the government. We effectively go onto the "Pay-Go" idea that democrats LOVED when they thought it was a way to defund Iraq. In addition, we have no choice but to balance the budget.
Sure, Moody's and S&P will whine, but when we don't actually default, they'll have to relent. Any rating agency that downgrades on failure to take on new excessive debt ought not be in the credit-rating business.
I'm not seeing what our incentive is to raise the debt ceiling.
First, we can blink, and let Obama ram our economy up the backside with more debt, more spending, and more distortion of the citizen-government relationship.
Second, we can call his bluff and get instant spending cuts on August 2nd. We've got the money to service the debt; pay social security, mediscare, and military pay; plus have enough to run the government. We effectively go onto the "Pay-Go" idea that democrats LOVED when they thought it was a way to defund Iraq. In addition, we have no choice but to balance the budget.
Sure, Moody's and S&P will whine, but when we don't actually default, they'll have to relent. Any rating agency that downgrades on failure to take on new excessive debt ought not be in the credit-rating business.
I'm not seeing what our incentive is to raise the debt ceiling.