We continue to go in circles with a Congress chasing its tail. America must pay its bills, and that requires another incremental uptick on the debt limit. Ultimately, the nation will pay its bills no matter what because the President is permitted to do that under the 14th Amendment.
However, having another calamity in Washington over the debt ceiling will only jeopardize the nation’s credit rating again. For that, if it happens, you can blame House Republicans. The mere thought of going through this again should bring the House down in Election 2014. Voters need to replace Republicans with Democrats.
Doing that will not result in a wild spending spree because that isn’t in the card. It would create a functional government to set priorities and to reduce spending.
The place where spending reductions can and should occur is in the enormously over staffed and over equipped defense and homeland security apparatus. It is the largest government welfare bureaucracy that we have, and it drains capital from the commercially viable private sector.
A great transformation is needed to turn the Military Industrial Complex into a commercially viable enterprise producing consumer products and services.
“House GOP divided on debt ceiling
By JAKE SHERMAN and JOHN BRESNAHAN | 2/4/14 6:57 PM EST Updated: 2/4/14 7:59 PM EST
After several days of talks with their members, House Republican leaders have not been able to identify a debt ceiling package that could pass with only GOP support, according to multiple senior aides.
In fact, they’re nowhere close.