Of course, the Democrats are using the debt ceiling debate to spread fear, doubt and uncertainty. Because that's what Democrats do. Walter Cruttenden uses precision and candor to debunk their lies.
Listening to the dire warnings of President Obama, Treasury Secretary Geithner and the messengers of Big Government the American public lives in fear of what might happen if the debt ceiling is not immediately increased. We hear three recurring themes: we could relapse into economic crisis, interest rates will rise, and the US will lose credibility in the international investment community. But are these warnings true? Absolutely not!
In short, Cruttenden observes that:
• America doesn't hit the debt ceiling on a hard-and-fast date. The country can shift payments for months by prioritizing interest remittances over other bills.
• Fewer bonds issued will very likely mean interest rates drop as a phenomenon unknown to Democrats known as "supply-and-demand" kicks in.
• The only loss of credibility in the markets will occur if a serious effort to reduce the deficit doesn't begin now.
I propose a compromise of sorts, which I believe is my awesomest idea ever. I call it Debt Ceiling Cap-and-Trade. Democrats can begin slashing government to stay under the debt ceiling. If they need extra cash flow, try slashing the Department of Labor's budget by, say, 80%.
The Branding Is Simple: No More Blank Checks
The branding is as simple as it gets. For too long, the taxpayers have been robbed blind by politicians willing to borrow from generations yet unborn to fund their various entitlement schemes, pork and pet projects.
Those days are over.
Whenever a Democrat tries to tar a Republican as cruel or heartless, the response is concise and honest: No more blank checks.
Let the Democrats Pick the Spending Cuts
I call this part of the plan 'Debt Ceiling Cap-and-Trade'. We conservatives are nothing if not tolerant, so we'll let the Democrats pick their spending cuts.
And since Democrats love Cap-and-Trade, we'll let them determine which of their delightful programs get slashed and which survive. Here are their choices:
Democrats are free to pick any combination of programs that allow them to pay the bills. They get to choose. If they want to keep the interest payments on their mammoth deficit spending going, they need to begin slashing to find the money.
And the country benefits all around.
Seriously -- this is my bestest idea ever. Pass it on to your friends and family members. If we don't lay down the law now, when will we?
And the branding is simple enough even for a RINO to understand. No more blank checks!