I appears that sometime today, Democrats and Republicans are going to reach “a compromise” on the debt ceiling extension. As you probably know (because you’re informed!), on October 18th, the government runs out of money without an increase in the amount of debt it can incur. That’s like you going to your credit card company that you already owe $50,000 to and pay interest only payments on each month, and want them to give you an unlimited credit card limit for a specified period of time. That’s what the Democrats want.
Republicans are set to cave on this. Mitch McConnell has hinted he won’t stand in the way. Democrats are asking that the debt ceiling be waived until December, 2022 (after the midterm elections). That would allow Democrats to spend whatever they want, and run the debt up as high as they want with no consequence (at least to them…for you and me that’s another story).
Some Republicans are asking that there be a limit as to how high the debt ceiling can go, and others are insisting that the Democrats can only go past the debt ceiling a certain number of times. Let’s call that like you won’t buy the Chevy or the Ford on your credit card, but you’re heading to the Bentley dealer. Same difference.
We have reached the point in our existence where we don’t really have two political parties that are bi-polar. They are more like a few feet apart, but certainly not miles apart. It’s all how they appeal to their base, and how they can keep their base from leaving them. And it’s hurting our opinion of them. Gallup has just released a poll saying that less than half of us have confidence in the people that hold or even run for public office.
I have to be honest and say that at one point, I considered a run for Congress, with no actual political experience. When I was told by the chair of the party in my county that I would have to spend the next 12 years (6 terms) running, I thought he was nuts and decided against it. Today? I wouldn’t even consider running for political office. Not that my wife would let me in the first place.
The damage has already been done by Congress and this president, hell bent on sending the debt higher and higher. And it’s not just been Democrats. Donald Trump raised the debt pre-COVID 16.8% (until March, 2020). It went up another 18% from March, 2020 to the end of his term. That sounds like a lot, but it’s not. Bobo Obama increased the debt 69.98% during his two terms in office, and George W. Bush raised it a whopping 105.08% during his eight years in the Oval.
So, you can’t sit back and blame just the Democrats. Republicans as well have been guilty of this. And it appears that both sides in the Senate are heading toward this “compromise” which the Democrats are spewing that “McConnell caved”. Yup. I would probably be inclined to agree with them. All of this with 52% of Americans saying that the federal government needs to spend less money, not more, and cut programs in light of the increase in inflation and the higher debt ceiling.
The big question is, is there anyone in DC listening to Americans?
Carry on world…you’re dismissed!