My recommendation is to NOT raise the legal debt ceiling of the government. If they can’t get by with $14.3 trillion dollars, they doggone sure don’t need any more credit.
Besides, it would force the government to make some of those cuts it needs to make to save the economy.
They’re exactly like a kid with daddy’s credit card, who spent a lot of money on Nintendo and parties, complaining that he’s hit the credit limit. The correct solution is to say “tough”. Giving that kid more credit is rewarding bad behavior. Giving that kid ANY credit is a bad idea – he doesn’t know how to handle it responsibly!
And, as a parent, I am not amused.
Of course, we’re going to have to really watch them close, if real cuts begin; because they want those video games and parties. And sadly, some kids turn to stealing when they run out of money.
The cuts need to come from agencies and activities that are counterproductive – like the DOE, and the EPA which is certainly getting too big for its britches. And put in a flat tax and we could ditch the entire IRS. And maybe we could put a limit on how many miles Obama can fly Air Force One in a year…
No more games; no more parties; no more government money to count spots on butterfly wings, or to study sex in water buffalos; no more “stimulus” that does not produce 100% payback; no more waste!
Living within our means; what a concept!
Footnote: Both my sons are grown men now, and I can state that I never gave either one of them a credit card. They learned to be self-sufficient quickly, and I am very proud of them both.