The U.S. Government will hit its Debt Ceiling of $14.3 trillion around March or April of this year. Given the Democrats’ reckless spending spree of $5 trillion over the past two years under the leadership of Nancy Pelosi and Harry Reid, it is clear that the Dems will want to raise the ceiling in the hopes of continuing their wasteful programs and passing the bill along to our grandchildren.
First, it is nonsense to think that one should pay off a credit card by using another credit card with a higher interest rate. Second, the “full faith and credit” of the United states government is in greater danger from ballooning deficits and higher national debts than it will ever be from a capped Debt Ceiling.
Thus, I have a proposal. The GOP should extract two concessions from the Dems before agreeing to raising the Ceiling.
1. Any legislation that raises the Debt Ceiling must include a Balanced Budget Amendment.
2. Any legislation that raises the Debt Ceiling must repeal and permanently defund Obamacare.
If the GOP was really listening last November, they will demand these consessions and not back down from them.