Free Markets, Free People


Debt ceiling: Orwell just missed it by a few decades

The more I see politics of today the more I think George Orwell simply listed by about 30 years. Imagine a politician a few decades ago trying to make this argument and then calling the other guy’s argument “absurd”.

“While I’m willing to compromise and find common ground over how to reduce our deficit, America cannot afford another debate with this Congress over how to pay the bills they’ve already racked up,” Obama said in the East Room of the White House at what aides have billed as the final news conference of his first term. “To even entertain the idea of this happening, of America not paying its bills, is irresponsible. It’s absurd.”

But the problem is, thanks to both Congress and this administration, we are not paying our bills. We’re borrowing money that we don’t have and have been spending it. I find it ironic, that the president who has run up the largest deficit in history is talking about being irresponsible.

And then, there’s this:

“They will not collect a ransom in exchange for not crashing the American economy,” Obama said. “The full faith and credit of the United States of America is not a bargaining chip.”

But that is precisely what Obama is doing, using the credit rating of America as a bargaining chip – to justify more spending on credit. No irony there. Interesting that Obama is suddenly concerned about “not crashing the American economy” when his  profligacy has put us in a position we are in today.

“The issue here is whether America pays its bills,” Obama said. “We are not a deadbeat nation.”

Yes we are. He just doesn’t know it yet, or at least won’t admit it.   And much of the cause rests with him as signified by his absurd argument.

~McQ

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37 Responses to Debt ceiling: Orwell just missed it by a few decades

  • “The issue here is whether America pays its bills,” Obama said. “We are not a deadbeat nation.”

    Sure we are!  As Steyn has stated, we are the brokest nation on earth.
    Why else are some idiots touting “the magic coin”…???
    Why are WE buying the bulk of our own debt IF the world sees us as a fiscally sound outfit???
    As always, you can see that Obama does not even believe his own BS.

    • I’m sorta amazed (okay, maybe not: see below) that so many are missing the evident ambush he’s setting up for us via China, Russia, Iran, etc., economically, militarily…

      • Well, in the tradition of his hero Roosevelt….you know it makes sense.   Set up for Pearl Harbor redux?

        • FDR biographer John Flynn, perhaps the most strident FDR critic of the era, doesn’t think FDR maneuvered us into WWII. He makes a good case the FDR knew war was coming and unavoidable. It just happened (seriously) that he figured it would get us out of the Depression. He also threw a lot of material at the enemy to assure we’d WIN.
          Obama, on the other hand, is trying to weaken us, trying to encourage our enemies to “take a swing” at us, and is making sure we LOSE.
          That loss could entail any or all of the following:
          * Becoming beholden to China in the Pacific.
          * Becoming beholden to Russia in Europe and the Middle East.
          * Absorbing a strike from Islamics here, in Europe, and/or Israel.
          This would be, according to Obama’s “thinking”, our punishment/his revenge for the “sins” of our past.

    • “Sure we are!”

      No, we’re not!
      Deadbeats don’t *borrow* money; they have no intention of paying it back, and the entity supplying the money doesn’t expect to be paid back. We are a Ponzi nation. We are paying our  past investors with proceeds from our current investors. We are sound as a dollar!

      • I assume your tongue was lodge in your cheek as you wrote that.
        One issue with Obama’s “dine and dash” BS is that it is no better to pay your tab with bogus bills.  In fact, quite a bit worse in some respects.

        • “I assume your tongue was lodge in your cheek…”

          A safe assumption. It usually is. Still, I think the Ponzi nation thing has too much truth to it.

  • A deranged president, elected by a deranged nation, “fundamentally transforms (a euphemism for “intentionally destroy”) America[1].
    [1] Cloward-Pivin

    • “That’s the problem with government — government is anonymous and so no one is accountable. The reason you want somebody to be accountable is that you don’t want someone to make that decision again.”

  • Since no one has gone there…(yet, because of course Obama will eventually)……BOOOOOOOOOOOOOSSSSSSSSHHHHHHHHHHHHHHH.

  • If Congress doesn’t raise the debt ceiling, the issue will indeed be if the Democrats choose to pay our bills, or keep the checks flowing to various constituencies.
    I have zero doubt they’d stiff our creditors if given the chance.  What an evil, pathetic little man.

    LET IT BURN……it’s gonna burn anyway
     

    • The word now is that they will raise the “debt ceiling” for a four year period.
      The only logic behind this approach is to make the Administration ask for, and take ownership of, the $5+ trillion amount.

  • But tomorrow ladies and gentlemen, will come the third round of pay styles for working people.  We had the first Friday of the month for those who get payed weekly, last Friday we had the second Friday for those who get payed every two weeks, and tomorrow comes the 15th for those of us who get payed on the 15th and the 30th(ish).   Except for the people who get payed once a month (may God have mercy on their souls) pretty much everyone is getting to see the increase in taxes at a personal level.

    Now, I KNOW it’s not a payroll tax increase, and all that stuff.   But we must recall we’re operating with the ‘low information voter’ that Obama relied on to return in triumph to his digs at 1600 Pennsylvania.   Right about now some good segment of the ‘low information voter’ pool is thinking that Baracky lied to them about raising taxes on the RICH and not on them.  Doesn’t matter if they’re missing the boat here, remember, one more time, ‘low information voter’.    Should be interesting to see who they’re all blaming by July, cause Santa has been and gone and there aren’t any miracles unicorns left, only the Gods of the Copybook headings.

    Hey…whatever happened to Nuclear Iran?   Or is that passe?
    Gonna be an interesting year.  Bloody stupid Mayans, we were supposed to be done with it all by now.  Rags, any chance we can get a class action suit against them for breach of contract, omission, nonfeasance, something?

  • On point as always. Welcome back McQ.

  • Paying our bills has nothing to do with the debt limit. The feds bring in plenty of cash to pay bills and avoid defaulting on any outstanding debt. Just close down a few minor extravengant expenditures, e.g. AF1 vacations, HUD, Dept of Education, and so on, and there will be no need to raise the debt limit.

    • Q&O had a previous post showing the 2011 “budget”, and it was something like this:

      $2.5T in revenue, which, after the mandated spending was done, left us with $217B for EVERYTHING else. So really, unless you cut entitlement spending somehow, you don’t have enough.

      • Cut entitlement spending.  ‘Mandatory’ is just a word used to help help blow smoke about what can and cannot be cut or establish a false degree of priority.

      • Pay interest and principal, roll over existing debt, don’t issue new debt. Do this and the USA will not default.  Jettison non-essential departments as I have stated over and over again (HHS, HUD, DHS, Dept Ed, DOE, most of Ag & Commerce, etc…), raise SS retirement age to avg life expextancy at age 21 minus 8 years, dump mortgage interest, state and property tax deductions, and so on. I keep repeating this in the hope that someday it will sink in.

  • “The issue here is whether America pays its bills,” Obama said. “We are not a deadbeat nation.”

    The problem here, and they did this last time, is that Obama is putting the Debt Payments in jeopardy of not being funded first.  Even though, they could arrange the pay schedule and revenue to take care of the Debt Payment.

    By deliberately putting Debt Payments as the first to be unfunded, he gets credit reporting agencies on his side now.

    Congress needs to create a separate revenue/funding scheme in place that keeps Debt Payments away from being used this way.  Of course, if we didn’t have a defacto state run media, we wouldn’t have to.

    • In my novel written two-plus decades ago, I described “entitlement riots”.
      Not really hard to predict today, since we are seeing them both here and abroad.
      Here, all per Cloward and Pevin…aided by the crippling of the productive capacity of the US via the Obamic Decline.

      • Like many statists, Cloward-Pivin never gave a thought to PRODUCTION, only to CONSUMPTION (or “parasitism” as it’s called where I come from) and living out of someone else’s wallet.
        Eventually, though, the walletee says “F#k it, I ain’t playin’ no more.” and the parasites starve.

  • Got time for a little gun control though, no budget, but gun control.  Glad we have our national priorities totally straight.

     

  • Speaking of the Debt Ceiling – maybe if enough cute little kiddies wrote Big Ears about their fear of a crushing debt they’ll have to pay off, do you suppose Barack would surround himself with little children who’d sent him letters pleading with him to cut spending and the debt like he’s going to do with the gun control chillins?

    No?  thought not.

    So, maybe the ‘right’ ought to get a boat load of little children to do just that.  Let’s see how far Barack is willing to go when it comes to hiding behind living and dead children.

  • Obama is just trying to continue paying for Bush’s wars, without having to drastically affect the income of those dependent upon it for retirement, disability, and unemployment.  Why should they be harmed because a small group of people benefited from these wars.  Like yourself, since you benefit financially from the sale of firearms and ammunition, why should we not take that fact into consideration when reading one of your articles about anti-gun, -accessories, and -ammunition, because of your personal interests.   But the right-wing no more considers this kind of personal interest in politics, than they do with war—according to most conservatives the goal of all war in which the US participates is expansion of freedom, not the struggle to gain natural resources or territory.  Hence, as the war ends, they lose sight of who actually benefited from the war, and instead of holding them responsible for the costs, they redirect this responsibility to the poorest members of society—who are least able to afford it.





     

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