Raising the debt ceiling does not increase our debt! Printing $1 trillion a year in funny money is good for us! We have to keep interest at 0% so the economy will grow!
This is the economic logic in Washington. Kind of like leading from behind.
You could see this coming right at the start of this year. Obama was sworn in for a second term, having taken a bruising in the election year about jobs and the economy. Then suddenly, “poof” – the headlines became about gun control, immigration, and implementing Obamacare.
That only worked for so long with Obama’s allies in the news media as scandal set in regarding Benghazi, the NSA, the IRS, and a menu of other scandals. By the end of the summer, Obama had had enough and saw his chance to change the headlines again with Syria. Though foreign policy is not his strong suit (still trying to figure out what is), in the second term of any presidency, it is a reliable backstop, and the news media are reliable stooges/co-conspirators of Obama’s.
Of course as October 1 approaches every year, and as we have reached the debt ceiling yet again, we are sure to see the headlines with dire warnings of a government shutdown. It shuts down every weekend, so I am not sure what the panic is all about, other than easy newspaper sales (do they still sell print newspapers?) and very easy articles to write.
This time the twist is about defunding Obamacare. It’s about time that the week-kneed leadership in the House took a stand (see: Boehner Puts Obamacare Defunding in the CR).
As we hear howls of angry reaction from Democrats, remember that these are the same Chicken Littles who warned of doom if the sequester occurred. Well, it came and went and there was no doom.
In fact, there have been 18 federal government shutdowns in our history, all in a 20 year span between 1976 and 1996, ranging in duration from one to 21 days (see: A Brief History Of Federal Government Shutdowns). Big deal.
Defund Obamacare, refuse the debt ceiling increase, shut down the government more often than every weekend, and stop printing money. We will survive, and maybe someday we will once again thrive economically in this country.