Dazed and Confused over $18T

 

 

"Who says money does not grow on trees?"

Back at the University, I took five quarters of Econ. Not enough to minor in it, but enough to satisfy my interest. I always found Econ my most interesting subject. Why I did not major in Econ instead of Finance is still a mystery to my. In any event, I really thought I understood the basic principals of Economics. As of late, I realize just how little I know.

I will say this however - it does not take a rocket scientist to see what is coming next. Yes, I can see the stitches on the fast ball coming over the plate. The moaning and groaning, gnashing of teeth, gloom and doom will prove too much for the weak at heart. The BIG news from the dueling pressers yesterday was there was a "hint" of some movement. What was that? You know - kick the can down the street again, even for a few weeks. The writing is starting to appear on the wall - the signpost of the road is now visible. We are going to get round heels and raise the debt ceiling to $18T, as many feel the alternative is worse than death.

Yesterday, I heard many talking heads use the same term over and over and over again. It would be IRRESPONSIBLE not to raise the debt limit. We would default on our obligations. The full faith and credit of our once great country would by sullied. Blah, blah, blah, blah. A very small and less vocal minority was signing a different tune - it would be IRRESPONSIBLE to add another $1T onto our already staggering national debt. Nobody seems to care about that song. Sure, we know the roof needs repair, but it is not raining right now, and might not rain for a few days. We maybe will address the roof issue the next time it rains.

I have said many times the biggest problem the Republicans have is messaging and the messenger. The facts on the consequences of a debt this large speak for themselves. We need to have some brave soul(s) get up and tell the American people the TRUTH. Enough pablum, enough lies, enough half truths. We need a very good story teller to tell the TRUE story of the cancerous effect of this debt.

Yesterday, Senator McCain (who I admire as a war hero), got up in the well of the Senate and decried the bone head move to not financially support the families of the recently fallen. He, like others, blame the government shutdown. I agree with him that this is a total disgrace. I do disagree with him when he said, [paraphrase] "Can't we find a way just to put this thing to an end?" Washington translation - House Republicans, please cave in, open the government and raise the debt ceiling. Let life go on in Pleasantville.

Well life won't go on in Pleasantville. Just as in the movie, Pleasantville is a mirage - a make believe place. As we tiptoe ever closer to the tipping point, the edge of the cliff might be found in 2014 if we raise this debt ceiling once again.