Because the House Republicans had every reason to believe that President Obama would violate his constitutional obligation to service America’s debt before paying off any other obligations, something that could have destroyed the world economy, they agreed to let him raise the debt ceiling. This is what happens when you “negotiate” with someone you suspect is as loopy as the Joker in Batman. If you’re not willing to go nuclear, don’t bother. (Read More: Pissed Off People Overtake John Boehner’s Facebook, Blame Him For Caving.) With a blank check in his pocket (at least until the end of January, when we repeat this useless Kabuki theater), the Democrat-led executive branch of the government is ready to go on a spending binge. On Thursday, the U.S. borrowed a record $328 billion dollars in order to replenish the funds it borrowed over the last five months. With this $328 billion added onto America’s already existing debt load, America now owes $17 trillion. Or if you like to see your numbers written out, America now owes $17,000,000,000,000. (Read More: House Republicans Accept Senate Democrats’ Plan, Boehner Gets Standing Ovation.) This is just the beginning. The $328 billion was actually an automatic replenishment of monies the government borrowed recently. That’s the usual way things are done: Congress sets a borrowing limit beyond which the government cannot go. To avoid that ceiling, the government shifts funds around and, when a new debt ceiling is put into place, it must instantly repay those funds. : How Cruise Ships Fill Their Unsold Cabins These 7 Things Activate Alzheimers in Your Brain How Penny Stocks Create Millionaires Every Day ? Sign The Petition To Repeal Obamacare Click Here → (Read More: Bill O’Reilly: Just What Has Obama Done in Five Years?.) This time around, however, Congress did not place a limit on Obama’s borrowing. Instead, it placed a deadline on the borrowing. Obama can load the U.S. with as much debt as he wants between now and February 7. Best estimates are that, by the end of January, Obama will have burdened the flabby, staggering, weak American economy with another $350 billion or more in debt. (Read More: Woman Loses Her Home… For Failing To Pay A $44 Property Tax Bill.) Let’s hope that, as February 7 nears, the Republicans have a plan in place. We kind of liked the shutdown because it meant that the Republicans were actually doing something, rather than just wringing their hands and writing checks. The shutdown deadlock was doomed to failure, though, because of tension between true conservatives and RINOs, not to mention the fact that none of them remembered that you don’t play chicken with someone who’s obviously happy to drive off the cliff.
Posted on: Sun, 20 Oct 2013 22:01:04 +0000
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