"However, as long as our printing presses are in good shape, and China does not cut us off, it is all good. The national debt? Who cares? Kick it down the road. Let our kids and grand kids take care of it. That is, unless we go belly up first, and everything collapses."
(Yawn)...Sorry. I need to address this issue again. Actually, I have not done it for a while. It is about the debt ceiling. It is big news today, as our POTUS did an "end around" on the Republicans and struck a deal with the Democrats. To "kick the can" for another three months. Big flipping deal. As far as I am concerned, they can just scrap the entire event.
Bird! Have you flown the coop? I thought you were a big "kill the national debt guy"? I am. But the debt ceiling has nothing to do with the national debt. Okay - maybe just a little bit. First off, I think the debt ceiling should have a different name. Like, the "pay your bills" ceiling. The debt ceiling addresses money which has already either been spent or obligated.
By the way, since I am on this rant this morning, the one question which never seems to be asked in Washington is "Where is that money coming from?" That is taboo language similar to mentioning Lord Voldemort's name in Harry Potter. President Trump wants to have a game changing budget this next fiscal year. Paul Ryan wants it to a "by the books" budget, in accordance with Article One of the Constitution. Very good! My question then is simply this - what good is a budget, any budget, if nobody follows it?
Examples: the unexpected twin hurricanes this year of Harvey and Irma. We already know the damage from Harvey could be close to $200B - maybe even higher when all is said and done. The Governor of Texas is looking for federal help in footing that huge bill. Where is that money coming from? Irma is the strongest hurricane ever recorded in the Atlantic. Irma has painted a bulls eye on southern Florida. There will be damage to Florida and there has already been damage in the Caribbean. Everyone will be asking the federal government for financial help. Where is that money coming from?
Are we going to help storm victims in need? Of course we will. The payment? Just put it on the card please. What about our new "mini-surge" in Afghanistan? Just put it on the card please. What will happen if we need to mix it up with the Norks? Just put it on the card please. The offsets for the tax cuts? What? No offsets? Then put those tax cuts on the card please.
Get the picture? The debt ceiling discussions are about as useless as a screen door on a submarine. It is waste of air to discuss, a waste of ink to print about. The budget is almost as big of a waste, as it is never followed.
However, as long as our printing presses are in good shape, and China does not cut us off, it is all good. The national debt? Who cares? Kick it down the road. Let our kids and grand kids take care of it. That is, unless we go belly up first, and everything collapses.