Debt Problems and Why You Shouldn’t Worry Too Much

Okay let’s deal with some basics here.  First watch this video.

We have enough to pay our debts.  We don’t have enough to keep spending more than our debts (well we do, we just don’t have enough to keep spending like drunken sailors).

The House has passed 2 different bills.  Each time it’s the Senate that is holding this up, and last time I checked the Senate is controlled by Democrats.

The 14th Amendment does not give the President to right to make new spending.  At most it gives him the power to pay our bond holders…and as I just said we have the money to do that.  We may not have the money to make welfare payments to people who haven’t been able to find a job in three years (yeah my heart bleeds), maybe they can swallow their pride and take a job somewhat below what they used to do (yet strangely more than we’re paying them to sit on their ass).  Oh, and we can’t make new payments to Medicaid and Medicare…which might prove that the medical field will actually work better, cheaper, and help more people when the government isn’t involved.  And we might not be able to make payments to the Department of Education, HHS, HUD, Interior, Agriculture, Commerce…you know that might again make things work better as well.

If Obama tries to continue his mad spending spree and if we hit the debt ceiling and uses his LSD induced interpretation of the 14th Amendment to do so, I predict two things.  The first is that a rational Supreme Court would give a power grab like that, the likes of which hasn’t been seen since a dictator wannabe like Lincoln, I suspect the Supreme Court will give that move a 9-0 thumbs down (but given that this is not a sane Court the vote will be 7-2, guess which two aren’t able to actually read what the Constitution says).  The 2nd prediction is that Obama will be even a bigger childish whiner than he has been.  I fully expect a prime time 2-year-old temper tantrum with foot stomping, name calling and pouting.

Odds are I would bet the Senate will collapse and Obama won’t be fully suicidal (but you never know).

And just a little reminder the power of the purse was given to only one half of one branch of the government (the one that’s currently controlled by the GOP).  The Founders must have had a reason for that.  Probably because it’s too easily abused a power that you should have 2 and a half branches as a check against the use of that power.  It’s really screwed up when the people with the authority to spend are the ones calling for cuts and reason and living within our means and it’s the other branches shirking their responsibility to hold that power in check.

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Filed under Budget, Congress, Constitution, Debt, Economics, Obama

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