|Source: Lou Dobbs-|
The debt ceiling is a tough issue, because it can be argued intelligently from both sides.
From the Right, "we've piled up too many bills borrowed too much money and we must stop this. So before we agree to finance the borrowing of whatever the new agreement on what our debt limit will be, we must agree to start to pay down our debt. Our credit card spending is out of control, so before we can borrow more we need a new financing plan to get our national debt under control so we don't have to borrow so much in the future."
And on the Left there's a solid argument of, "look we've already agreed to as a government that we are going to borrow this much. Congress and the President have already run up this tab. All we are doing with the debt ceiling is make that official and putting that money on the credit card. Since we've already spent the money now we just have to borrow the money to pay these bills in the short- term and after we do that we can talk about to get out spending and debt under control."
I lean more to the right on this issue in this sense that our national debt is way too high and we can't sustain it long-term especially as the rate that it's growing. And that we need to raise the debt ceiling to avoid default, but that we need to start paying some of these bills now. And send the message that America is not going get by on credit card economics indefinitely and that we are going to start paying our bills. Limit our spending, increase revenue, but we are going to start paying for things as a country again. By paying for them and not by borrowing money from other countries that would love to have more leverage on us. They currently do and that means ripping up the current national debt card and yes raising the debt ceiling, but paying for it. So to raise it by another trillion dollars, we need to come up with another trillion in government savings either through, cuts, reforms, or new revenue, or a combination of all of those things.
If anything President Obama should welcome this debate, because he can say to the House Republicans, "you want to cut the debt and deficit, so do I. You don't have a plan to do that yet that would actually solve the problem. But I do and I'm going to come up with a 1T$ in defense savings without hurting our national security over ten years. By using the draw downs from Afghanistan and Iraq and putting that revenue towards deficit reduction and not back in the defense budget. I'm going to save Medicare and Medicaid by no longer having Medicare and Medicaid subsidize hospitals and doctors by how much health care they deliver, but by how healthy their patients are. And Food Assistance will no longer subsidize the junk food and drink industries and pay for those groceries. Wealthy seniors will be required to pay more for Medicare and Social Security up front. And then pay for all of the Medicare they receive once they are retired. And they can afford it and be taxed on their Social Security benefits as well."
There's a big opportunity politically and governmentally for President Obama here to look like he's protecting Americans especially in the middle class without looking like a borrow and spend Socialist. But also not like someone whose going to balance the budget and reduce the debt and deficit on the backs of the middle class. By putting forward a balance common sense debt ceiling and deficit reduction plan on the table. That gets the job done and can bring the country behind him.