“I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.” – Thomas Jefferson
I tend to agree with Jefferson. I think the issue with the National Debt and the Debt Ceiling is important more as a symbol of government’s uncontrolled growth than as a predictor of doom for our economy. And all the claims that this would be the first default in the history of the US? Poppycock. We have defaulted at least four times and some would argue 6 times. Read this and see if you agree. If that doesn’t satisfy you, then look here.
This is not to say that running up the debt like we are now is not problematic. It is. But, the nations of the world are invested in the U.S.A. as the safe-haven of choice. If they force the default issue, they will be hurting themselves as much as they are hurting us. Where else would they go for an international standard currency? China? Not a chance.
Here is some perspective on our debt.
I understand if you don’t want to take the time to read any of these. Suffice it to say it is my opinion that controlling the growth of government and its constant intrusions into our daily lives is a bigger issue than raising the debt ceiling to prevent default. And, the President’s careful wording of statements saying that we may not be able to make Social Security and Medicare payments is pure politics. He knows that those payments will be made but he loves playing politics. If you think he was not playing politics, then why did he not say that government contractors may not get paid, or that the postal service employees may not get paid? No, he chose Seniors because they are a huge group and he wants to be seen as protecting them from the evil Republicans in the House. He will need their votes come November next year.
It seems that the answer to the questions, “Does our National Debt Matter?” is dependent upon who you ask. Ask Mr. Obama and were he to be honest about it, he would say it is a critical political issue he needs to use against Republicans.