The Debt Limit Farce

Up until 2011 the raising of the debt limit was just a a housekeeping chore that Congress had to go through occasionally. Whichever party that was  in power would vote to raise it  and the opposition against, usually unanimous on both sides. The debt limit was raised 18 times under President Reagan and 7 times when Dubya occupied the the White House

Saint Ronny even warned against not raising the limit:

"The full consequences of a default -- or even the serious prospect of default -- by the United States are impossible to predict and awesome to contemplate. Denigration of the full faith and credit of the United States would have substantial effects on the domestic financial markets and the value of the dollar."

When the Republicans took control of the Senate after the 1980 election it was time to raise the debt limit again and Senate Majority Leader Howard Baker met with his caucus and told them they had to vote to raise the debt ceiling. He got the usual objections from his members like "I never voted to increase the debt limit in my life", etc.  His response was the American people elected us to govern and now we must show them we are fit to govern. The Republicans then  all voted to increase it and all the Democrats voted against it. 

Now the Republicans are moving on from shutting down the government to threatening to blow up the world economy if they don't get their way. Do you know how many financial instruments are tied to the 30 year T-Bill? Not only in this country but around the world. If the Treasury has to decide between paying the interest on  the debt or issuing Social Security checks or paying other obligations there will be chaos not seen since 1929.

As I have said before these Tea Party people are not conservatives. They are anti-government anarchists. 

There is a way out of this ridiculous situation and Sen. Mitch McConnell of all people came up with it in 2011:

HP:
Under current law, Congress raises the debt ceiling, which allows the Treasury Department to issue more bonds to pay off debts and fund projects that Congress has already authorized. Raising the debt ceiling does not authorize or appropriate new spending, but merely settles old bills. 

Yet under McConnell's plan, which he called his "last-choice option," the White House would request an increase in the debt ceiling and Congress could only block that request with a veto-proof super majority -- effectively ceding control over the debt limit to the White House. A super majority would likely be difficult to amass, especially when neither party's leadership genuinely wants the nation to default.

Veterans Day

This a repost from 2 years ago.

I always joke that I expect a call from the White House on Veterans Day.

I understand why the last occupant of the place never called since he didn't give a shit about the people that were killed and maimed as a result of his Oedipal complex and my opposition to it. I voted for Barry and expected better from him but he continues the ill fated adventure in Afghanistan. Clinton waged a half assed effort in the Balkans and his predecessor had a violent reaction when oil supplies were threatened as any (oil) junkie would.

Some of you know that I wore the uniform of the United States Air Force after high school.

During my time in the service the United States engaged in 3 significant military actions on the orders of President Reagan. The bombing of Libya was justified but didn't deter them from taking down an airliner over Scotland a few years later. I knew the navigator in the F-111 that went down. Although I didn't know it at the time I was part of the planning of the raid. In the Beirut fiasco a good friend who was a load master on a C-130 got shot up on the tarmac of the airport, 241 Marines later died when their barracks was blown up after the US took sides in a civil war. The next day the US invaded Grenada.

I hate war.

Veterans Day

I always joke that I expect a call from the White House on Veterans Day.

I understand why the last occupant of the place never called since he didn't give a shit about the people that were killed and maimed as a result of his Oedipal complex and my opposition to it. I voted for Barry and expected better from him but he continues the ill fated adventure in Afghanistan. Clinton waged a half assed effort in the Balkans and his predecessor had a violent reaction when oil supplies were threatened as any (oil) junkie would.

Some of you know that I wore the uniform of the United States Air Force after high school.

During my time in the service the United States engaged in 3 significant military actions on the orders of President Reagan. The bombing of Libya was justified but didn't deter them from taking down an airliner over Scotland a few years later. I knew the navigator in the F-111 that went down. Although I didn't know it at the time I was part of the planning of the raid. In the Beirut fiasco a good friend who was a load master on a C-130 got shot up on the tarmac of the airport, 241 Marines later died when their barracks was blown up after the US took sides in a civil war. The next day the US invaded Grenada.

I hate war.

Killer trees

WILKES-BARRE – Police said Andrew R. Tostevin, 19, of Coopersburg, was found hanging upside down from a tree at North Main and North streets at about 12:36 a.m. Thursday. Police said Tostevin told officers that the tree attacked him. Police said Tostevin was heavily intoxicated and was taken to Wilkes-Barre General Hospital.

For some reason this report reminded me of one of Saint Ronny's greatest hits:


Killer Trees.

After opining in August 1980 that "trees cause more pollution than automobiles do," Reagan arrived at a campaign rally to find a tree decorated with this sign: "Chop me down before I kill again."

I don't get it

The news that Fred Thompson will run for President has some of my Republican friends all-a-flutter. What's so special about him? He helped bring down Nixon as counsel to the Senate Watergate Committee then became a big time lobbyist before serving one uneventful term in the Senate. He voted for the campaign finance reform bill that they all hate McCain for. He's best known for his roll in the Law and Order TV series which I've never seen. The only movie I do remember him in was The Hunt for Red October. Not exactly as stirring a performance as Ronald Reagan in Hellcats of the Navy. But after watching the performance of the present field I can understand them wanting something else. Sorry guys, nothing short of digging up Saint Ronny and nominating him is going to save the White House for you in 2008.