Glasgow Daily Times, Glasgow, KY

Z_CNHI News Service

October 11, 2013

Sad shutdown stories distract from debt crisis

(Continued)

Obama keeps saying members of Congress must vote to pay for spending they have already authorized. Which sounds good.

It really would be good if the president really meant “pay for.” But what he really means is that he wants Congress to authorize borrowing the money from somebody else, like China, so that country can pay for it, and we will owe them even more. The U.S. can’t pay its bills today, never mind tomorrow.

Raising the debt ceiling only papers over the problem.

Can you imagine a financial counselor telling a family drowning in debt that the way to get back on their feet financially is to raise their credit card limit so they can go even deeper in debt? And then when they reach that limit, just get it raised again?

A few spoilsports have pointed out what then-Sen. Barack Obama said in 2006, when President George W. Bush sought to raise the debt ceiling. He called it, “a sign of leadership failure.”

“It is a sign that the U.S. government can't pay its own bills,” he said. “It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our government's reckless fiscal policies. … Increasing America's debt weakens us domestically and internationally. Leadership means that ‘the buck stops here.’ Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren.”

Whoa, sounds like something the “Hezbollah wing of the Republican party” (one of the gentler epithets lobbed at conservatives by liberals) would say.

If only the president would listen to the senator he used to be. Or at least acknowledge that he once said what he now accuses Republicans of being irresponsible for saying.

As a few sober voices have pointed out, the government “shutdown” (the majority of it is still operating) and the fight over the debt ceiling are relatively trivial distractions from the real danger – debt that will crush coming generations and that puts the nation in serious danger of default.

Text Only
Z_CNHI News Service
Local News
Facebook
AP Video
UN Security Council Calls for MH 17 Crash Probe Obama Bestows Medal of Honor on NH Veteran Texas Sending National Guard Troops to Border Hopkins to Pay $190M After Pelvic Exams Taped Foxx Cites Washington 'Circus Mirror' NASA Ceremony Honors Moon Walker Neil Armstrong Obama Voices Concern About Casualties in Mideast Diplomacy Intensifies Amid Mounting Gaza Toll AP Exclusive: American Beaten in Israel Speaks Obama Protects Gay, Transgender Workers Raw: Gaza Rescuers Search Rubble for Survivors Raw: International Team Inspects MH17 Bodies Raw: 25 Family Members Killed in Gaza Airstrike US Teen Beaten in Mideast Talks About Ordeal 'Weird Al' Is Wowed by Album's Success Shark Sightings a Big Catch for Cape Tourism Native American Teens Get Taste of College Legendary Actor James Garner Dies Ukraine Rebels: Black Boxes Will Be Returned Recording May Show Attempt at Crash Cover-up
Must Read
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Seasonal Content
Video