If you have watched any of the debt ceiling negotiations, you have noticed that it appears that lawmakers are at an impasse. Every other day it seems someone is walking out of the room. All of this of course is political posturing.
Obama appears to have changed the goalpost today, insisting on new taxes to make up for spending cuts. Democrats are painting a picture in the media that Republicans are holding our nation hostage. (They tend to accuse their opponents of the very things they themselves are guilty of.) If the Democrats can get the Republicans to raise taxes it does two things for them:
1. They get to increase taxes like they have been planning on doing all along.
2. It makes the Republicans look weak if not treacherous for caving on the very thing voters demanded of them during the last election.
If the Republicans stick to their guns and do not pass an increase in the debt ceiling (which I believe the Democrats are privately praying to the Earth Mother for) they will be able to blame the Republicans for ALL of our economic woes. I can see them now plastered on MSNBC crying, “The economy was rebounding, and we were almost out of the woods until the Republicans stonewalled the President. They denied our country the prosperity that every American has a right to!”
I believe that the debt ceiling should not be raised. Yes, it will hurt, but we need to take our medicine. The longer we wait to get our affairs in order the harder it will be. Our grandfathers, fathers are not the only ones to blame. We were convinced that there is such a thing as a “free lunch”.
We need to be the next “Greatest generation”, and do the difficult task of ensuring prosperity not for our generation, but for all future generations.