Can America Survive a Raised Debt Ceiling?
Now that the debt ceiling has been officially raised, do we just ignore the debt ceiling issue until it comes up again in 2013?
I'm not asking if we should ignore the debt itself, of course. We all should know by now that the U.S. national debt increases every second of every day of every week of every month of every year - and has done so for virtually every year since 1980. (Actually, this debt build-up started before 1980, but it's been pretty consistent since then.
But what about the debt ceiling? Since we know the whole issue comes up again in 2013, and we know that nothing of any substance was accomplished by the whole debt ceiling "resolution" this time around, why pay attention anymore?
Well, as it turns out, Congress has ingeniously found a way to keep our attention from straying (or at least some of us). They've set up a panel to look for ways to cut $1.5 trillion from the federal budget. So be prepared for more public pronouncements in the near future about how they're "addressing" their out of control spending.
I'm wondering if they didn't come up with this panel idea just so they'll seem like they're on top of our debt problems - without, of course, actually coming up with anything of substance that will really address the problem, just like they failed to come up with anything of substance during the debt ceiling resolution.
Am I too cynical? Well, we'll soon see if they come up with anything meaningful. But as for being cynical, I don't think so. Looking at what they've done so far (actually what they've failed to do), you'd have to say that all I'm doing is taking a realistic look at the existing situation, don't you think. Looking at things as they really are is by no means cynical.
Now maybe it's not true that the panel is just a gimmick. But I'll go on record as saying that - whether it was intended as one or not - it will prove to be yet another gimmick to make our congressmen look like they're doing something helpful to address the deficits and the debt.
I'm not asking if we should ignore the debt itself, of course. We all should know by now that the U.S. national debt increases every second of every day of every week of every month of every year - and has done so for virtually every year since 1980. (Actually, this debt build-up started before 1980, but it's been pretty consistent since then.
But what about the debt ceiling? Since we know the whole issue comes up again in 2013, and we know that nothing of any substance was accomplished by the whole debt ceiling "resolution" this time around, why pay attention anymore?
Well, as it turns out, Congress has ingeniously found a way to keep our attention from straying (or at least some of us). They've set up a panel to look for ways to cut $1.5 trillion from the federal budget. So be prepared for more public pronouncements in the near future about how they're "addressing" their out of control spending.
I'm wondering if they didn't come up with this panel idea just so they'll seem like they're on top of our debt problems - without, of course, actually coming up with anything of substance that will really address the problem, just like they failed to come up with anything of substance during the debt ceiling resolution.
Am I too cynical? Well, we'll soon see if they come up with anything meaningful. But as for being cynical, I don't think so. Looking at what they've done so far (actually what they've failed to do), you'd have to say that all I'm doing is taking a realistic look at the existing situation, don't you think. Looking at things as they really are is by no means cynical.
Now maybe it's not true that the panel is just a gimmick. But I'll go on record as saying that - whether it was intended as one or not - it will prove to be yet another gimmick to make our congressmen look like they're doing something helpful to address the deficits and the debt.
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