Thursday, July 21, 2011

GOP Compromise IS Raising the Debt Limit

The Debt Limit Battle continues to rage and President Obama is continuing to demand compromise from the Republican Party.   In essence, he wants "some of his stuff" (ie tax increases) in return for cuts.  I would like to make a different argument:  The GOP is giving the President a debt limit increase.  That is where they are compromising.  They are giving Obama the ability to borrow more money.  For this, the GOP is requiring significant cuts in government spending so that we can begin to reduce our debt and, if possible, make this increase the last increase.

It's not dissimilar to the debt limit increase that Ronald Reagan signed in 1987 (you know, the one Liberals are trying to claim as Reagan asking for a debt limit increase?).  Time to give you some history that Liberals won't tell you.  Reagan agreed to increase the debt limit in exchange only for spending cuts so that another increase was not necessary.  He was essentially promoting a Cut, Cap and Balance plan.  Unfortunately, Presidents cannot pass legislation, at least not Constitutionally speaking.  (Someone please go tell Obama.)

The GOP is giving Obama what he wants:  a debt limit increase.  That is what Obama is getting.  He is getting the ability to maintain spending above and beyond what money is actually taken in for another 18 months.  That is the compromise: spending cuts in exchange for a debt limit increase.

Obama and the Liberals keep telling us that the GOP needs to compromise.  I've made the point over and over again that what the Democrats want to do is poison the economy by raising taxes on the people who own businesses and thus create jobs.  I have said over and over again that you don't compromise with refuse to ingest it.  That is what we are talking about now.  Obama and the Democrats want to pass bad, fiscally unsustainable policies and they want the GOP to compromise their good, fiscally sustainable policies.  I'm sorry, but this isn't about compromising between two equally good options or even two equally mediocre options or two somewhat bad options.  This is about good ideas or bad ones.

The money doesn't exist to tax more and spend more.  It doesn't.  Not only would it be bad for the economy, but it would also be unsustainable.  It would amount to more of the same unsustainable spending that will ultimately lead to a massive economic collapse akin to what Greece and other European nations are experiencing now. 

One other issue:  There is no Obama plan to compromise WITH.  Obama's sole plan is "just raise the debt limit, do nothing else, pretend we don't have a spending problem at all."  Sorry, but that plan must be a nonstarter because it is a terrible plan.  That's like having a plan for building a stable house that starts with a paper mache foundation.  It's a terrible idea.  Obama has done nothing but wait for the GOP to cave to his terrible demands. Obama is the one who has not presented a reasonable plan.

The GOP is compromising: they are offering to raise the debt limit and bail out the bad debt created by this administration.  Obama and the Democrats must compromise by cutting their irresponsible spending.  The gravy train is over.  The sugar daddy is out of sugar.  It's time to spend what we have, not what we wish we have.  That's the compromise.  Take it or leave it.

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