Christian Debt Recovery

Senate Debt Ceiling

October 28th, 2007 |

Author: Gavin

senate debt ceiling

Another Player in the Debt ceiling talks has emerged

As was predicting the House Republicans passed their cut, cap and balance bill to help tackle our rising debt problem in this country. Now many of the Obama supporters will say that the debt does not matter, that deficits do not matter. Well unfortunately for them the experts do not agree with that and have begun pleading with the Obama white house to finally curb our addiction to spending. So the Democrats in the Senate and a new gang have put forth their plan that will be voted on shortly to tackle our rising debt problem.

Many of the talking heads are now trying to use Reagan and his speech as an example of why Obama is correct in this matter, but here is the problem with that. When Reagan was talking about raising the debt ceiling it was only to be 20% of the current GDP. Obama and the Democrats want to raise the debt ceiling to GDP by almost another 30% over the next 2 years, we are currently at 98% and they want to add another 4 trillion dollars to the debt ceiling. with no real serious discussion on curbing our spending, we will be back at this point in 2013. And if you believe the CBO, our debt to GDP will be over 150% within the next 5 to 7 years, and 200% in the next 8 to 10 years.

I am sure many of you will remember Greece and their implosion on themselves with the out of control debt and no way to pay for all those lavish socialist programs right? Well that is where we are heading with the Democrats looking to put even more people in the category of not paying income tax, while giving their millionaire self as many breaks as possible to not pay their fair share. We are quickly running out people to support our debt spending, and to give us a reason to raise the debt ceiling in the future.

The Republicans in the house stood firm and did the heavy lifting on leading the charge mostly because the tea party to get the spending of the Government the talk of the town. To the point that the Senate gang of 6 has proposed a 3.4 trillion dollar cut to spending, and about 1 trillion dollars in tax increases. Of course after everything is said and done the spending cuts will be less, because we know that the democrats will not go as deep as 2.4 trillion in spending cuts. So just like in the 80′s when Reagan agreed to sign the bill that promised $3 in cuts to $1 in tax increases, what we will get in the final bill will be $3 trillion dollars in tax increases (that will never materialize) and $1 trillion dollars in spending cuts.

The American people were sold down the river once again by the Wealthy in this country, and beyond what anyone might say the wealthy is not the guy or gal earning 250K a year working, it is the Politician, hedge fund manager and President that has most of their money in stocks and bonds that are never talked about when we want to raise taxes on the “wealthy”. That is why you get those Democrat billionaires saying they want a tax increase, because they themselves do not take a salary that will be affected, their salary comes from the stock they hold in their companies. Which is taxed at 15 to 20% depending on the Party in control.

If we have a tax collection problem in this country it is because the would be Monarchy of the Democrat party refuses to tax their campaign contributors where it would matter most and instead look to demonize those very people that create a business and hire people.

Why are those that support Democrats so against leaving the working man and women alone and going after the real movers and shakers?

About the Author

Jack simms is a commentator, and writer at Partisan Divide

Debt ceiling increase. Hearings before the Committee on Finance, United States Senate, Eighty-fifth Congress, second session, on H.R.9955, an act to provide for a temporary increase in the public debt…

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Impact of debt ceiling legislation on aviation funding and safety : hearing before the Subcommittee on Aviation of the Committee on Commerce, Science, and Transportation, United States Senate, Ninety-ninth Congress, second session … February 3, 1986.

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