Monday, August 8, 2011

The Debt Ceiling Debacle

After I share my observations on the debt ceiling "deal"
with you, my fantastic readers, I am going to take a very
much-needed break to decompress, de-stress, and dump
my worries and frustrations with the happenings on our
nation's political scene. The events of recent days have
knotted my nerves like a child's shoestrings! First Congress
drafts and passes a sick joke of a plan to deal with our
mad spending coupled with raising the debt ceiling, then
S&P reduces our debt rating from AAA to AA+, an
unprecedented event which many Americans, including
your beloved Peasant, never for a minute thought would
ever happen.

The upshot of the debt limit pact is that Congress had agreed
to reduce spending by one trillion dollars over the next decade,
while raising the debt ceiling to $16.4 trillion; yes, you read
that right, folks, the debt limit was jacked up, but not quite as
much as was originally planned. There's our so-called spending
cut! And of course the spender-in-chief happily signed off on the
outrage. More shortcomings of this fiscal travesty include the
fact that it doesn't even mention, let alone address, entitlement
and tax reform. The park-barrel projects are still at the public
trough. Illegal immigration costs are still climbing. So are the
costs of the growing number of wars that the current admini-
stration is getting us involved in; has anyone noticed how this
president makes his predecessor look like a timid rabbit when
it comes to military engagements?

And what about the Republicans in Congress? What did they
do, if anything, to prevent such a farce from occurring? To the
credit of House Speaker John Boehner and the House GOP,
they did craft and pass a credible measure that would have at
least done something to deal with all of the aforementioned
problems. But getting it through a much more hostile Senate
would prove to be another matter. Remember, the Senate is
still in Democrat hands; there are also RINOS there, and in
just enough numbers to make passage of the House version
of the debt ceiling bill an even more hazardous proposition.
Sure enough, these nefarious forces combined to kill the

What the Senate crafted in its place, and the Republican-held
House resigned itself to (knowing that they couldn't possibly
do anything more), was the charade that Obama signed into
law. And S&P knew that the resultant mess was not going to
do diddly as far as relieving the debt and spending woes were
concerned, so the once-thought-to-be-impossible became
ignominious history.

What the debt deal SHOULD have done were these badly-
needed actions:

1) Repeal Obamacare. Stop spending money on a plan to
nationalize our health care system, and place one-sixth of
our economy in the hands of a hopelessly spendthrift, wastrel

2) Amend the tax code to reform corporate taxes in ways that
will make it affordable for companies to bring home their over-
seas profits for reinvestment here at home instead of keeping
them in banks outside the United States.

3) Reform entitlements, and perhaps eliminate a few.

4) Pay back the funds that were illicitly borrowed from the
Social Security Trust Fund. Both parties have raided this
cookie jar too many times over the years, never making a
serious attempt to repay the money.

Instead, what we got was, once again, the shaft from our
so-called representatives and the current regime. After all,
as far as they're concerned, we're not citizens; we're just
peasants, we don't matter! And don't get your boiling-mad
Peasant started on the Obama Administration's response
to the credit downgrade! They claimed that S&P made an
error in their calculations on our debt and our means to
deal with it, and Obama did what he always does when the
going gets tough; he had gone golfing! Elitism, arrogance
and cowardice; the hallmarks of this misbegotten govern-
ment of ours.

Usually I post on Wednesdays, but I simply had to get this
off my chest. I feel much better for having done so, too.
When I return from my rest and relaxation in a couple of
weeks I shall be in a better frame of mind. In the meantime,
thank you, my loyal readers, for bearing with me through
all of this. We are in some perilous times, and there are
more potential as well as actual dangers that lie ahead.
But we also have our next national election ahead of us,
and the presidency will be up for grabs.

Could it be that prosperity is just around the corner?


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