12.11.2009

Democrats and the debt ceiling

“The bill’s already been run up; the credit card has already been used. When you get the bill in the mail you need to pay it."

- Rep. Dave Obey

Congressman Obey, why the hell were you spending with a credit card in the first place?

The numbers getting tossed around show just how fiscally irresponsible the Democratic Party has been while in power.  And I don't care what the Republicans did under Bush - most weren't responsible in that regard either.  Stop making excuses.  We're talking about here and now.

It's also worth noting that numbers contributing to the overall fiscal problem can't simply be blamed on the war or the recession.  The White House, in conformance with what is now a common theme, talks fiscal responsibility, but doesn't follow through:

The White House has vowed to be more deficit conscious in its forthcoming 2011 budget due out in February. But the House could vote as early as Thursday on a $446.8 billion year-end package covering more than a dozen Cabinet departments and agencies and representing a healthy 9 percent to 10 percent increase over current spending for the same accounts.

Raising the debt ceiling makes me ill.  While the raising of the ceiling simply permits the government to issue more instruments, such as bonds, to cover the debt, it's a sign of increasing fiscal imbalance.  The Democrats are looking to jury rig this house of cards now to prevent the move from being noticed closer to the 2010 elections:

In a bold but risky year-end strategy, Democrats are preparing to raise the federal debt ceiling by as much as $1.8 trillion before New Year’s rather than have to face the issue again prior to the 2010 elections.

They seem to think people will forget.  I, for one, will not.