Dakota Beacon

Debt ceiling time rolls around again with all the drama of a Greek tragedy. And the media cabal offers a mesmerizing kaleidoscope of confusing factoids and disinformation.

The discussion focuses on raising the debt limit as if it were the self-evident responsible thing to do. Politicians keep emphasizing America must “honor its obligation.” This would be like a long-term heroin addict lecturing his suppliers that the responsible thing is to keep giving him heroin. Advocates of big spending in both parties (but especially Democrats) get away with implying that THEY are the morally and fiscally responsible ones by proposing raising the debt limit. But raising the debt limit is like raising the limit on a long-since maxed out credit card. If you knew somebody who makes $50,000 a year and had $700,000 racked up on his credit card, would you tell him that the responsible thing is to raise his credit card limit — immediately?

America must “honor its obligations?” We’re talking DEBT here. Isn’t the way to honor your debt obligation to simply start paying it off? And how is it you start paying it off by deeming an arbitrary increase in the amount you allow yourself to borrow? That’s insanity!

The issue here isn’t what happens if the debt ceiling is or isn’t raised. The question is why we are in this disastrous position in the first place. The real issue is DEBT piled upon DEBT without restraint. Either we face the music now by controlling federal spending or we increase the debt limit and continue spending money giddily. Raising the debt ceiling doesn’t solve the problem. It perpetuates it. The problem with kicking the can down the road is that we’re running out of road. What’s so terrible about insisting that spending be reduced more than the debt limit is raised?

We have no constitutional spending limits such as an amendment to curtail spending legally. We have no firm ceiling or limits on outlay. Reflecting on our federal spending habit, the debt ceiling adjusts upward whenever Congress feels like it. Bottom line? We have no fiscal discipline. America has been operating for the most part without effective budgets for years. The White House and the Senate have no template to serve as a balance sheet with spending items listed in the left column and associated income dollar figures listed in the right column. All spending must then balance against revenue. But non-transparency is the way the White House wants it -- the authority to spend more money without a budget on the one hand and not be held accountable at election time on the other. And all the talk about compromise? How do you compromise with a debt thief?

The real risk would be downgrading America’s financial rating by Moody’s and by Standard & Poor’s, the major credit rating agencies. Downgrading America’s AAA rating would ruin our financial standing around the world which may take years to regain.

Spend-aholic insanity resembles alcoholism. A $3.2 TRILLION debt places America in bankruptcy. We’re not ready to admit it. Instead, we raise the debt ceiling shield of denial.

Financial constraints and regulations that Congress so fondly imposes on the private sector should apply equally to the federal sector. The federal government’s cavalier spending made it the biggest monopoly and money waster in the world. Why do Americans continue to allow their politicians to spend money irresponsibly? They could vote for a President and a Congress who were serious about cutting spending and balancing the budget if they wanted to. Why don’t they?

The answer is clear. Most Americans don’t want spending cuts. That’s why most politicians are afraid to make the cuts. Only the principled minority take a strong stand on the issue. In fact, the majority of Americans hold conflicting views. “Be fiscally responsible and balance the budget. But don’t touch Medicare, Social Security, welfare, or most other government programs.”

Fiscal responsibility evaporates without the rational action required to balance the budget. In order to get out of a recession, the government must do what a majority of Americans have not wanted it to do -- cut programs and privatize them. That includes at least long-term cuts in Medicare.

Political leaders must stop pretending that raising the debt limit is the responsible thing to do. Once they raise it, and surely they will, they’re only going to start spending again. Until Congress cuts spending, fiscal sanity remains a fairytale.

Raising the debt limit acts as a recipe for growing government and government’s control over people’s lives. More authority to borrow means more money to spread around bribing constituents, buying votes, and stacking elections.

Biden’s real objective is for Democrats to re-take the US House of Representatives in 2024. Any reason Democrats can create for people to vote against Republicans in 2024 would be to the Democrats’ advantage. Political punishment for opposing a debt ceiling increase might look like this. When Congress fails to pass a debt ceiling increase, then the Biden administration, through Treasury Secretary Janet Yellen, defunds government programs -- selectively. Targeted cuts would be designed to inflict maximum pain on Americans. Then blame Republicans for America’s pain. How sinister and insidious! It’s all about shifting the congressional balance of power.

Meanwhile, the media cartel gives Biden and Congress all the cover necessary to ensure the road to socialism is paved with gold -- literally.

Dennis M. Patrick can be contacted at (JavaScript must be enabled to view this email address).