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It is wishful thinking -- and bad politics. The debt ceiling is going to be reached at the end of this year -- there is no room to enact any program to raise revenue and even if there was a massive tax hike, whatever revenue they project wouldn't come in anyway for quite some time. All you get is a government shut down, a forced default, and all easily blamed on Republicans who are playing politics. I don't know about you, but I didn't vote for my leaders to go to DC and vote "present" in some effort to make a political point. Didn't we learn the lesson with Reagan that you don't make concessions now in the hopes of future changes. All that said, the whole debt ceiling vote is idiotic and should be abolished. Congress already votes to approve the spending in the budget, appropriations bills etc ... it should go without saying if Congress gives you authority to spend it, then you by extension have the authority to borrow it.
It is wishful thinking -- and bad politics. The debt ceiling is going to be reached at the end of this year -- there is no room to enact any program to raise revenue and even if there was a massive tax hike, whatever revenue they project wouldn't come in anyway for quite some time. All you get is a government shut down, a forced default, and all easily blamed on Republicans who are playing politics.
I don't know about you, but I didn't vote for my leaders to go to DC and vote "present" in some effort to make a political point. Didn't we learn the lesson with Reagan that you don't make concessions now in the hopes of future changes.
All that said, the whole debt ceiling vote is idiotic and should be abolished. Congress already votes to approve the spending in the budget, appropriations bills etc ... it should go without saying if Congress gives you authority to spend it, then you by extension have the authority to borrow it.
