It is amazing that Ben Bernanke believes the debt ceiling has no real purpose. It is appalling that Obama equates the ceiling as an inability to pay for bills rather than what it is which is an inability to rack up even more bills. From the sound of things the republicans are going to cave and Obama will have gotten his increase in spending cap in exchange for exactly nothing. Many on the right are about to capitulate and are saying maybe the next fight is the one. Sorry friends but Republicans must stand up right now.
Any increase in the ceiling must come with concrete reductions in spending. Republicans are going to take the blame anyway. So they must not give in. Our country can not afford an open checkbook to spending. We need to make sure of a couple of things: 1. Spending actually be reduced, no not just reductions in projected growth, but hard cuts to current spending. 2. We must always include any future debt ceiling increase in to the budget. Any debt ceiling increase must be accompanied by a plan to reduce spending on a path to a balanced budget.
The American people must see how much debt we have and are continually incurring. These numbers must be plastered on the TV sets. Republicans are behind on the debate because everyone on the left is certain the republicans will cave in. The Democrats are playing chicken and don't believe the republicans are willing to stand up for principle. It is time for the republicans to stop worrying about elections and power. They need to be worried about saving a Nation.
This game of chicken is easy to play. Tell Obama, no more discussions on the debt ceiling. Congress controls the purse strings. That being said take away the discretion of the Treasury and provide an outline of what will get paid and what will not. Layout that yes, Social Security is mandated and will be paid. Obama Phones will be discontinued. 10 % of DoD payroll will be furloughed per month, 100% of Planned Parenthood funding will cease. No student loans will be processed staring next week. The list goes on and on. Obama is winning the argument because he is saying what he won't fund ie...Social Security. Stop letting him play you guys for the fools.
Stand up and tell Obama, no more negotiations. You are no longer authorized to incur future bills beyond monthly cash flows. No need for a 100% government shut down. Just stop funding the EPA, the NLRB, Obamacare. Take the taxes for Obamacare but spend them on bills we have already incurred. Do not let the Democrats continue incurring debt right to the limit. Make them curb spending today in anticipation of not getting a debt ceiling increase. Institute rolling furloughs starting next week. No Government employee is exempt with the exception of military and civilians deployed in Afghanistan. Everywhere the rolling furloughs should be planned for. Come up with a number 20 % of federal employees per month? Do it close the government partially down. Show that there is a responsible way of having a smaller government operate. Play Obama's game of chicken. Have a plan start passing laws in the house instituting ways to pay for government without a ceiling and dare Obama not to sit down and discuss his plan. If the debate stays on the terms that we "must pay our bills" Republicans will lose. If the debate moves to "what future spending can we afford" Republicans may still lose but at least they have a chance to win and they would have stood for principle.