"Debt Ceiling" Myths Undone
David Rivkin and Lee Casey do a fantastic job in The Wall Street Journal of undoing three myths about the "debt ceiling" debate:
"The first is that Congress's failure to raise the debt ceiling -- the amount of money the federal government is authorized to borrow at any given time -- will cause a default on the national debt. The second is that federal entitlement programs are constitutionally protected from spending cuts. The third is that the president can raise the debt ceiling on his own."
In short, the Constitution requires all debts to be paid. Our creditors are not at risk unless the government goes away. In addition, the $200 billion in tax revenue per month is more than needed to pay off the entire debt. Second, Medicare and Social Security are not part of the "public debt" and the country has no obligation to pay anything into them, a reality the U.S. Supreme Court has supported. Third, the Constitution only allows Congress "to borrow money on the credit of the United States."
It has become typical in school text books, in public discussions, and in the smug wisdom of Progressives, to diminish the words and actions of those who led the founding of the United States. However, now that the nation has gone through what Al Gore called a “wrenching transformation” away from limited government, free enterprise, and individual liberty (all major ingredients to making the US the freest and most prosperous nation in history) it’s time to listen again to their wisdom.
Avoid Sustainable Development: “When we get piled upon one another in large cities, as in Europe, we shall become as corrupt as Europe.”
Avoid the Welfare State: “The democracy will cease to exist when you take away from those who are willing to work and give to those who would not.” “I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.”
Avoid Massive Government Debt: “It is incumbent on every generation to pay its own debts as it goes. A principle which if acted on would save one-half the wars of the world.”
Avoid Government Over-regulation: “My reading of history convinces me that most bad government results from too much government.”
Avoid Control of Individual Gun Ownership: “No free man shall ever be debarred the use of arms.” “The strongest reason for the people to retain the right to keep and bear arms is, as a last resort, to protect themselves against tyranny in government.”
Avoid Compulsive Taxation of Income: “To compel a man to subsidize with his taxes the propagation of ideas which he disbelieves and abhors is sinful and tyrannical.”
Avoid the Federal Reserve: “I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property – until their children wake-up homeless on the continent their fathers conquered.”
Keep the Founding Documents Intact: “May (the Declaration of Independence) be to the world, what I believe it will be, to some parts sooner, to others later, but finally to all, the signal to assume the blessings and security of self-government.” His last written words June 24, 1826
The Founding Fathers are irrelevant? Every one of these issues is in the forefront of today’s political debates. Our Founders understood government and its dangers to our liberty. They feared it above all other threats and tried to create a system of self government through which we could protect ourselves from its tyranny. When their warnings are ignored we get Barack Obama, Nancy Pelosi, Harry Reid, and a government of lies, oppression and national bankruptcy.
President Obama ordered the cabinet to cut $100,000,000.00 ($100 million) from the $3,500,000,000,000.00 ($3.5 trillion) federal budget.
I'm so impressed by this sacrifice that I have decided to do the same thing with my personal budget. I spend about $2,000 a month on groceries, household expenses, medicine, utilities, etc., but it's time to get out the budget cutting axe, go through my expenses, and cut back.
I'm going to cut my spending at exactly the same ratio (1/35,000) of my total budget. After doing the math, it looks like instead of spending $2,000 a month, I'm going to have to cut that number by six cents. Yes, I'm going to have to get by with $1999.94, but that's what sacrifice is all about.
I'll just have to do without some things, that are, frankly, luxuries – six cents worth.
Did this President actually think no one would do the math? Please send this to everyone on your list so people understand how idiotic a $100 million cut is in a $3.5 trillion budget – ludicrous!!!!!!!
"There are two ways to conquer and enslave a nation...
OBAMACARE'S HEALTH INSURANCE EXCHANGES WILL DIE IN 'RED' STATES WHILST 'BLUE' STATES IMPLODE UPON THEMSELVES MOVING 'FORWARD'
I want to summarize as clearly and concisely as I can the incredible significance of our GOP governors REJECTING state based Obamacare exchanges. Here's what this means:
1.) The PPACA legislation (a.k.a. Obamacare) and the recent U.S. Supreme Court decision confirmed that states retain the right to either open a STATE based Obamacare health insurance exchange or to REFUSE to do so. If states refuse (20 states now have) then Barack Obama's administration will USURP our 10th amendment rights and open a FEDERAL exchange in each state.
2.) The PPACA legislation only authorized the I.R.S. to provide tax credits for for those who purchase health insurance in an Obamacare health insurance exchange IF that exchange is a STATE based exchange. NO SUCH AUTHORIZATION WAS GRANTED IF SUCH AN EXCHANGE is a 'fall back' exchange - meaning a FEDERAL EXCHANGE.
3.) The PPACA legislation only authorized the I.R.S. to penalize (a.k.a. TAX) employers $2,000 or $3,000 per employee if they qualify for health insurance in an Obamacare health insurance exchange IF that exchange is a STATE BASED EXCHANGE. NO SUCH AUTHORIZATION WAS GRANTED IF SUCH AN EXCHANGE is a 'fall back' exchange - meaning a FEDERAL EXCHANGE.
And here's the REALLY good part....
4.) There have been ZERO dollars appropriated by Congress to fund 'fall back' exchanges - meaning a FEDERAL EXCHANGE.
5.) Spending bills originate in the U.S. House of Representatives. The GOP, as of today, holds a 232 seat MAJORITY in the House.
6.) There are now 30 GOP Governors nationwide. Each and every one of them need to be UNITED in resisting state based exchanges.
If no money is appropriated for FEDERAL "fall back" Obamacare exchanges by the U.S. House of Representatives AND our GOP Governors stand STRONG and REJECT the establishment of STATE based Obamacare exchanges. Then STATE based Obamacare exchanges will only survive in the 'BLUE states'.
Then the producers - tax payers and business owners, will begin a migration to "RED states" that have taken proactive action against Obamacare. And, the "Blue States" will implode upon themselves as massive new costs related to opening and maintaining STATE based Obamacare exchanges continues and massive new Medicaid enrollment occurs and with it, rationing of care.
In the end, God willing, the vision our Founders had for us- where each state retains its sovereignty - will ultimately prevail.
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