This is not a new emergency. You will notice in the accompanying chart, the debt ceiling was raised 3 times already, just in Obama's first year in office. February 2009 - February 2010 an increase of $3 Trillion
- Bush took office in Jan 2001 - debt ceiling $5.95 Trillion
- Republicans mostly controlled both houses of congress until 2006 the debt ceiling increased 4 times by a total amount of $3 Trillion. March 2006 - debt ceiling $8.96 Trillion
- Fall of 2006 Democrats win both houses of congress, that means they have the majority in both Senate and House. Until the Republicans won back the House in the fall of 2010. In those 4 years the debt ceiling increased 6 more times for a total amount of $5.34 Trillion. February 2010 - debt ceiling $14.3 Trillion.
What is the point of having a Debt Ceiling if they are just going to raise it every time they have spent so much money that they reach it? What is wrong with expecting the government to actually use the debt ceiling as a ceiling? How much is going to be enough? Why am I and people like me compared to a terrorist organization(Tom Friedman of New York Times compared Tea Party to Hezbollah) or called an extremist(by communist Van Jones) for expecting the government to keep itself in check with tools such as an unmovable debt ceiling. Instead of being run like a bunch of crack addicts who just need one more fix, okay just one more fix, really this time just one more fix, I really mean it this time just one more fix, seriously this time just one more fix...
It took 200 years to get the debt ceiling to $5.95 Trillion. In 2001, why didn't they raise the debt ceiling from $5.95 Trillion to $15 Trillion? Perhaps because that would be way too extreme to pass? Of course, here we are just 10 years later...
Who are the extremists?
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| NationalJournal.com |
