raising the debt limit per se. The issue is that the US has been spending SO recklessly under Obama’s watch that it is simply unsustainable. 40 cents of every dollar that the US spends is borrowed. Think about that for a minute. Could you last very long if your finances were in such shape? If no, why is it that you think the gov’t can? It won’t last forever, and it is time to put down the crack pipe and face the facts.
I understand that the US credit rating will drop if we default in the short term. But the truth is that already the US is a bad investment–there’s no need to rely on debt ratings to make that call. Regardless of what the credit rating agencies say, there is a point where others won’t buy our debt. That is the real debt limit. Unfortunately, we don’t know how close we are to it. Maybe we are already over the line. We just won’t know until everything comes crashing down–there’s no way to keep juggling and keep all the balls in the air.
Also, we are passing along not a legacy to our children and grandchildren, but a debt. I’m reminded of a line from a TV show where a character was given a Christmas gift and now he has to get one for the giver. He exclaims, “You haven’t given me a gift, you’ve given me a responsibility!”
Well, we are in the same position. Are we going to give our children and grandchildren a gift or a burden? We can’t just keep spending forever and pretend that the day of retribution will never come. The democrats say to future generations, “screw you!” and they are doing just that. It’s not fair. It’s not at all responsible.
I have a 20-year-old daughter for whom I am paying to have her wisdom teeth extracted later this summer. I was talking to the Mendelian Spousal Unit (MSU) recently and we talked about how she will likely get married in the next few years. It simply would not be kind to tell her and the new spouse, “Oh, now YOU are responsible for the financial burdens.” No, I choose not to fob off my obligations as a parent onto someone else.
But this is much worse. It is knowingly fobbing off a HUGE debt onto the yet-unborn so I can glut myself on their (future) labors. Sorry, I’m not a Vampire. Obama and the democrats should be ashamed of themselves for such treachery.