You can certifiably certify you are smarter than Fella is if you have stopped watching the Nightly News on TV. Fella is still watching the nightly news and that proves he ain’t too smart.
Because I am still watching the nightly news I know that Congress is again wrestling with their re-occurring ritual about whether or not they will Raise the Debt Limit but they are not good wrestlers and they will give in quickly and Go To Happy Hour. In wrestling they call this a Pin and in this case it means they are about to pin a darker future on the Good Ole USofA.
One thing is for certain. They will all be blaming someone other than themselves and each member of Congress will come out of all of this craziness “knowing” it’s not his/her fault.
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If you think that our rulers in Washington D.C. have to raise the Debt Limit so they can spend more money you are as confused as most of the Folks Back Home (that’s us).
That’s not what’s happening here. They have to raise the Debt Limit because they have exceeded the Debt Limit. They are actually seeking authority to borrow enough money to cover what they have already spent.
Why do they bother to even put up the facade that they have a limited amount of money to spend? Once they have spent all they had, they simply make more.
At least they ought to change the name of the National Debt Limit. Here are my recommended names…
- The Temporary Debt Limit.
- The Debt Limit Until We Zip Right Past the Debt Limit Limit.
- The Unlimited Debt Limit.
- The What Debt Limit Limit?
- The Absolutely We Ain’t Gonna Go Over Limit Unless And Until Such Time As We Spend So Much Money That It Is Necessary To Borrow More Money To Cover The Money We Already Spent But Which We Did Not Have Authority to Spend Limit.
Until they get a new official name change in place they ought to put a Smiley Face before and after the old name. This way we will know they are just kidding.
Smartfella
Lagniappe: What can it hurt? It’s not a lot of money...Or is it?
- In 1917, somewhat counter intuitively, Congress established the debt limit so it could have more flexibility for deficit spending during World War I. The first official debt ceiling was established on the eve of World War II, in 1939, when Congress set the amount at a mere $45 billion.
- In 2002, Congress raised the debt limit from $6.0 trillion to $6.4 trillion, the first time it was raised in six years. In the decades following, Congress has abandoned any semblance of fiscal restraint as it has resorted to increasing the debt limit 20 times.
Since this is the Bottom Line, here is the Bottom Line...The current National Debt Limit is $31.4 Trillion. That’s 31.4 Thousand Billion Dollars. The Good Ole USofA is embroiled in Out-Of-Control Totally Unsustainable Deficit Spending.
