Monday, August 1, 2011

Current Debt Crisis Seems To Be A Hype! Maybe Even A Sham?

While trying to research details on the proposed agreement over the debt crisis thing this morning because I'm kinda interested in what it means to me and why I should care, I was surprised to find almost nothing readable by the mere non-political mortal other than the typical news outlet word bites. However, while perusing the plethora of paperwork and reports and talking head reviews, I did stumble upon an official report from the Congressional Research Service. Wow, what an eye opener!
This report details the history of the Debt Ceiling and the increases that have been made to it. In a nutshell, the ceiling has been raised TEN TIMES (7 under Bush) since 2000! Let me repeat that for you, my dear snowflakes, the ceiling was raised 10 times from 2000-2010! This last one makes ELEVEN! It's been raised 75 times since 1969! Two times by Obama in his 1st year; Feb 17 2009 raised by $789 Billion and Dec 28 2009 for $290 Billion! So, why the big deal now? Why is this one Armageddon?
If you follow the above link, look at pg 17. Table shows all the ceiling increases since 2000. Ceiling was $5.9 Trillion (converted to today's $$) in 2000. Today it's $14.7 Trillion... sigh...
A side note on the politicians involved with this recent Bru-Ha-Ha; Senator Harry Reid (D-NV, Senate Majority Leader), who has repeatedly scolded John Boehner (R-OH, House Speaker) for not "compromising or accepting my plan", has voted on all debt ceiling increases exactly along party lines! When Repubs are in charge, Reid voted 'no, when Dems are in charge, Reid voted 'yes'. Every time. Can you say, "Pot calling kettle black"? I knew that you could. (Apologies to Mr. Rogers)

So, why is this one making all the headlines and causing such angst? No clue. I have my thoughts, though. It started, I think, when Obama tried to bully Congress by claiming he'd veto any plan that wasn't what he called "permanent". No "temporary" fixes. Did he offer a plan? Did he assist in the negotiations or details? No. Did he walk out of a meeting with Boehner and it didn't make much news? Yes. Did he whine publicly and point fingers and wave his arms in a press conference about the one time Boehner walked out on him later? Yes.

I don't get it. It's easier understanding Dark Matter and the expanding Universe than all this political crap...

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