Little-Acorn
Well-Known Member
Normally the government hits the National Debt limit like a dozen times a year. And they just quietly pass a law raising the Debt Limit, and keep right on borrowing more and more.
You may recall that in 2010, TEA Party members in the House of Representatives, ran on the promise to end crazy borrowing and spending. And a lot of them were elected on that basis. So in 2011, when one of these Debt-Ceiling votes came up, they dug in their heels and refused to approve it. The screaming was deafening, government started shifting money from various retirement accounts to pay for the (ongoing) spending, the National Debt flatlined for a month or two, and eventually the TEA partiers caved and borrowing resumed.
The result was a Supercommitee to cut spending (they never cut any), and across-the-board cuts ("sequestration") as a result of the Supercommittee's failure. A new Debt Limit was set at just over $16.4 trillion.
Well, we hit that Debt Limit again on Jan. 1, 2013. More screaming resulted, and Congress decided to do away with the limit for five months. Sequestration cut in on April 1, and the Debt Limit was automatically reinstated at just over $16.7 trillion on May 18. Ever since that time, the govt has been raiding the Federal retirement accounts etc. once again to pay for the (neverending) spending, and there has been no new borrowing since the end of March.
But the strangest thing is: This time there have been NO reports of congressional battles to approve a Debt-ceiling increase. Nothing at all on TEA Party stubbornness, nothing on the wisdom (or folly) of not raising the limit.
Not a word. Dead silence.
The National Debt has been rising since before most of us were born. "Borrow and Spend" has been the watchword, the theme to live by, of leftist government since its inception.
Every time a limit on borrowing has even been mentioned, the person mentioning it has been ridiculed. When a limit was proposed, the proposer was crucified. And when it actually WAS halted for a few brief months in 2011, the media acted like the world had ended (which, for the Left, it almost had).
Now for the last several months in 2013, borrowing has been abruptly halted again. And we haven't heard a peep about it. Not from leftist congressmen, not from the press, not even from the leftist Prsident and his usual cohorts. NOT ONE WORD.
I'm sure huge battles are going on, somewhere, to get rid of the Debt Limit (as usual) and resume borrowing. But why have we heard ABSOLUTELY NOTHING about them?
You may recall that in 2010, TEA Party members in the House of Representatives, ran on the promise to end crazy borrowing and spending. And a lot of them were elected on that basis. So in 2011, when one of these Debt-Ceiling votes came up, they dug in their heels and refused to approve it. The screaming was deafening, government started shifting money from various retirement accounts to pay for the (ongoing) spending, the National Debt flatlined for a month or two, and eventually the TEA partiers caved and borrowing resumed.
The result was a Supercommitee to cut spending (they never cut any), and across-the-board cuts ("sequestration") as a result of the Supercommittee's failure. A new Debt Limit was set at just over $16.4 trillion.
Well, we hit that Debt Limit again on Jan. 1, 2013. More screaming resulted, and Congress decided to do away with the limit for five months. Sequestration cut in on April 1, and the Debt Limit was automatically reinstated at just over $16.7 trillion on May 18. Ever since that time, the govt has been raiding the Federal retirement accounts etc. once again to pay for the (neverending) spending, and there has been no new borrowing since the end of March.
But the strangest thing is: This time there have been NO reports of congressional battles to approve a Debt-ceiling increase. Nothing at all on TEA Party stubbornness, nothing on the wisdom (or folly) of not raising the limit.
Not a word. Dead silence.
The National Debt has been rising since before most of us were born. "Borrow and Spend" has been the watchword, the theme to live by, of leftist government since its inception.
Every time a limit on borrowing has even been mentioned, the person mentioning it has been ridiculed. When a limit was proposed, the proposer was crucified. And when it actually WAS halted for a few brief months in 2011, the media acted like the world had ended (which, for the Left, it almost had).
Now for the last several months in 2013, borrowing has been abruptly halted again. And we haven't heard a peep about it. Not from leftist congressmen, not from the press, not even from the leftist Prsident and his usual cohorts. NOT ONE WORD.
I'm sure huge battles are going on, somewhere, to get rid of the Debt Limit (as usual) and resume borrowing. But why have we heard ABSOLUTELY NOTHING about them?
