I’ve Gone Over the Cliff

By Lloyd the Idiot

The last minute round of tax hikes to avert the fiscal cliff somewhat had me both surprised and skeptical.  I was surprised that a deal that was solely an increase in taxes made its way through, and I was skeptical that the spending side of the balance sheet would ever be meaningfully addressed.  As I’ve said before, I hate it when I’m right.

Even without any deal on spending cuts or even the mention of spending cuts, the White House this week urged Congress to approve yet another increase in the $16,000,000,000,000 debt limit, saying Congress should just do “what it normally does,  which is raise the debt ceiling without drama.”  It’s exactly that attitude that brought on this problem in the first place.

Then, yesterday, the president had the nerve to again say the sky will fall if Congress fails to  raise the debt ceiling.  Wait.  I think I’ve heard this before somewhere.  And what ever happened to those spending cuts that could keep us under the debt limit? 

At any rate, I’ve just had it.  The culture of irresponsible federal spending must end (no kidding, right?).  To really change anything, though,  it needs to start now and it needs to be painful.  Start with the $60 billion Hurricane Sandy relief and work back from there.  Yes, use the debt ceiling as the leverage to get those cuts in place.  If we can’t get our house in order without raising the debt ceiling, then so be it.

 Let the sky fall.


Comments

  • Eric the half a troll says:

    “If they raise entitlement spending one year they can just as easily cut it the next year… or the next week.”

    So pass legislation that cuts entitlement spending. But do not refuse to pay for the spending already authorized until you get around to passing that legislation, ad hominem man.

  • Eric, the debt ceiling exists because the Constitution gives Congress the power of the purse… in other words the power to authorize debt trumps the power to authorize spending. If some irresponsible Congress chooses to spend more than exists, there is no legal obligation for a future Congress to increase the allowable debt prior to rescinding the spending previously authorized… when the debt “ceiling” is reached the current Congress may choose to increase or decrease it without regard to any prior law. Spending authorizations and debt authorizations are not bound by one another unless through common legislation, for example if we actually passed a budget and incorporated a debt ceiling increase into it. Even in that case either provision in such a omnibus law could be changed, however it is clear that it is virtually impossible… neither spending or borrowing can be controlled when you have a selfish citizenry voting to raid the treasury, their children and their grandchildren.

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