Whose debt is it anyway?

As the Republicans get set to control the House of Representatives tomorrow, one key issue is going to dominate the headlines. This topic is the debt ceiling, which is currently set at $14.3 trillion. The current national debt just eclipsed the $14 trillion mark. This means that Washing-ton will max out its credit card in March. The Republicans are now between a rock and a hard place here. Do they raise the debt ceiling and give themselves more time to fix the mess with the deficits, or do they refuse to raise it and risk the federal goverment defaulting if the debt goes above the limit? This is an important question and a huge dilemma. But first let's think about what happened during the previous two years.

The actual debt went up about $3 trillion during the 111th Congress. The people in charge of the entire federal government were womb-to-tomb progressive liberal Democrats bent on destroy-ing America. That's God's honest truth. Please don't fall into the trap that the Republicans will agree to increase the actual debt if they agree to increase the debt ceiling. The Republicans may not have a choice in this matter because the debt is increasing at about $4 billion per day accor-ding to Fox News. They may not have time to fix everything long term unless they do something about the debt ceiling in the short term.

President Obama, House Speaker Nancy Pelosi, and Senate Majority Leader Harry Reid set this up so beautifully for themselves. The timing couldn't be better for them. In order to increase the debt, they raised taxes and passed Obamacare. They bailed out the automobile industry, the banks, and Fannie Mae and Freddie Mac. They passed stimulus bills costing trillions of dollars.
They printed trillions of dollars courtesy of the Fed, diluting the value of the dollar. And they passed all this legislation using bribes and kickbacks to empower themselves. Obama will use this opportunity to blame House Republicans if the debt goes beyond the ceiling, causing America to default.

Before you blame Republicans for raising the debt ceiling if they have no choice, we need to blame the Democrats for getting us so close to that limit in the first place and make the Repub-
licans look like the bad guys for something they did themselves. Remember that a raise in the debt ceiling doesn't necessarily mean a raise in the debt. I think the Republican House should put the brakes on all this insane spending immediately. If it is inevitable that the debt ceiling will go beyond $14.3 trillion, the Republicans should raise it (to about $15 trillion) and come up with a plan to stop the waste in the long term. They should force President Obama to come to the table and have him agree to negate all of the spending bills that have put America into such a bind.

I hate these looming debts as much as any Tea Party Patriot, but we must deal with reality. Our national debt stands at $14 trillion, as does our Gross Domestic Product. It's very sad to see the wealthiest country in the history of the world be on its knees because our politicians can't control spending and corruption. If the Republicans need to increase the debt limit, I can live with that. If the Republicans refuse to control spending, I can't live with that!

G.J. LaRouche, 4 January 2011