Senator Minority Leader Mitch McConnell (R-KY) with Senate Minority Whip Jon Kyl (R-AZ). Senator McConnell proposed a backup plan which would allow the President the privilege to raise the debt ceiling.
President Barack Obama was resorting to scare tactics Tuesday that Social Security benefit checks might have to be halted on August 3rd if there isn't a deal worked out by Congressional leaders to raise the debt ceiling. President Obama and the Democrats like to use such scare tactics that Seniors will not receive their benefits or that U.S. troops won't be paid if Republicans don't bow down to their scare tactics. Senator Mitch McConnell (R-KY) said that he doesn't think there's any way a debt solution is possible as long as the President occupies the Oval Office. Consequently, Senator McConnell came up with a plan which would give President Obama the authority to raise the debt ceiling without Republican votes. A couple of weeks ago I heard that the President may invoke the Fourteenth Amendment to the Constitution to ensure that the federal government's obligation to our Senior Citizens is fulfilled. House Speaker John Boehner (R-OH), is about ready to cave in on a compromise with President Obama. On a new note, President Obama and Congress decided to postpone meeting today for further talks about the debt ceiling.
What's infuriating about this whole situation is there is no serious discussion on the part of the Republicans about eliminating unconstitutional spending immediately. I do recognize given the fact that the Democrats control the Senate and the White House that the Republican House is limited on the type of legislation that can be passed through Congress. However, the Republicans do have the power to allocate where the money goes in the budget. If the Republicans in the House were serious about eliminating wasteful spending, they would've defunded Obamacare, the wars in the Middle East, and all other types of unconstitutional spending. There is so much wasteful spending in Washington that it would astound us if we know all that was being spent. However, the Republican establishment in the House isn't interested in reining in spending. They just want the issue for campaigning. It was a good campaign issue for them last year.
The conversation should be centered around eliminating wasteful spending before there are talks about increasing the debt ceiling. President Obama and the Democrats want the ceiling raised another $4 trillion so they can continue their spending spree. I guarantee you if the debt ceiling is raised there won't be any substantial cuts, if any. The Republicans aren't serious about shrinking the federal bureaucracy. Their whole approach to these budget talks should be about eliminating wasteful spending today--not the next eight to ten years. It's misplaced priorities to be debating about raising the debt ceiling without first eliminating all wasteful spending. That goes to show nobody in Congress is serious about reining in spending in Washington. The Republicans in the House can choke off spending in certain areas. They refuse to do that. The focus of the conversation can't be about enabling Congress to continue their spending ways. It has to be that Congress must operate under a budget. They can't spend more than they take in. They can't be wasteful in how they spend money.
One of the tactics President Obama and the Democrats have been using is the call for increasing taxes upon the wealthy. I've never seen how persistent the Democrats are in trying to find ways to increase taxes upon the American people. What income level constitutes the rich according to President Obama and the Democrats? $250,000 and below. I don't believe they're going to force the super rich to pay their fair share of taxes. Take a look at Jeffrey Immelt at GE. This past year GE didn't pay any corporate taxes. Immelt hired tax preparers to find a way where he wouldn't have to pay taxes. The rich will find a way to buy off our elected officials. I guarantee you the super rich won't be paying their fair share. It will be those with income levels at $250,000 or less that will be saddled with a tax increase. Here's another point that needs to be pondered: If the tax rates on the wealthy are increased, then the middle class will be affected by those tax increases. If Congress exacts a tax increase on the wealthy, then that tax increased will be passed to the middle class by the way of higher prices. Higher taxes on the wealthy will eventually affect the lower class in America when they try to purchase gasoline, groceries, or other goods. The prices for those goods will be raised.
I've been opposed to the debt ceiling being raised and I still am. I've listened to commentators on Fox News such as Bill O'Reilly who believes the debt ceiling needs to be raised one more time so our nation doesn't default on the obligation to our Seniors as well as he believes the failure to raise the debt ceiling could have major repurcussions on our economy. The problem is Congress will continually be raising the debt ceiling year after year for the same reasons as they are about to do so this time. They've overspent. If we had Republicans that were more concerned about the welfare of this nation than about making deals with President Obama, they would have already defunded Obamacare and wasteful spending in the House. My proposal is to first eliminate all the unnecessary spending and then determine with all the cuts being made would that be enough revenue sufficient to take care of our nation's financial obligations to our Seniors and to our soldiers overseas. I happen to believe if Congress will automatically eliminate wasteful spending immediately, then we should have enough revenue coming in to meet our nation's financial obligations. It makes sense to eliminate unnecessary spending before discussing the issue of raising the debt ceiling. That's the way it should be. That's what a corporation would have to do in the private sector if it wants to stay alive and competitive. We don't need to enable Obama and the Democratic Party to continue their spending spree in Washington. The answer is to eliminate wasteful spending. We have a spending problem. That's why our country is in the financial shape it's in. It's not due to lack of revenue even though the treasury in Washington has lost a lot of revenue in the past few years due to millions of jobs being eliminated in the private sector. The spending level is out of hand. You can't spend more than you take in and not suffer the consequences. That same principle also applies to Washington as well.
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