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items tagged with debt ceiling

TARP, Stimulus, Now Debt Ceiling Increase: Back in the Woodshed
Written By: Jeff Ignatius
Section: Commentary/Politics

Category: Editorials

2011-08-04 11:52:11

Here we go again. The new philosophy of government is to never underestimate the stupidity of Americans. After all, we will swallow anything these days. There is no line Congress can draw in the sand that we will not step over in terms of complacent consent for politicians and bureaucrats, including the courts and police, to abuse their authorities.

Do Americans not understand that as long as we remain silent, doing nothing in response to these outrageous financial manipulations by Congress, they will continue to burden taxpayers with unsustainable governance? How many times do we have to be taken to the woodshed before we resist? Just as the majority of the world’s economists predicted, TARP and both stimulus expenditures were eventually exposed as boondoggles. But how quickly Americans forget.

Once again Congress, with the full cooperation of the mainstream media, created a faux crisis to justify even more astronomical spending. For weeks Americans have been hammered with misinformation, half-truths, and, in some cases, outright lies relative to the debt ceiling. Broadcasters, with the sole exception of Judge Andrew Napolitano, warned in dire terms that to not raise the ceiling meant economic “Armageddon,” borrowing President Obama’s descriptor time and again.

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Ted Rall: The Whole System Could Collapse!
Written By: Jeff Ignatius
Section: Lifestyle

Category: Ted Rall

2011-07-22 15:17:54

The Debt-Ceiling Dance and the Annual Budget Ritual
Written By: Jeff Ignatius
Section: Commentary/Politics

Category: Guest Commentaries

2011-03-07 15:28:20

Once again it’s time to talk about raising the statutory limit on the U.S. government’s debt – the so-called “debt ceiling.” Treasury Secretary Timothy Geithner has estimated that Uncle Sam will reach the debt ceiling before Tax Day, possibly even before the end of March.

Even earlier, on March 18 to be precise, the current two-week appropriations resolution that is funding government spending will expire.

Are these two stories giving you a sense of déjà vu? They should. These two closely related issues are perennial events. Congress has raised the debt ceiling 74 times in the past 70 years, and, of course, passing an annual budget is necessarily an annual event.

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