Then and now
Don Quixote on Jul 30 2011 at 8:43 am | Filed under: Uncategorized
Sadie sends along a link the what Harry Reid was saying years ago. Surprise — he was against raising the debt ceiling.
Now, I know that Zach makes the argument that raising the debt ceiling is the responsibility of the majority and the minority is free to cynically take pot shots for doing so. But I’m just odd enough to demand some level of consistency and even statesmanship in my representatives. Yes, I know that is too much to ask of members of Congress, but it shouldn’t be.
Harry Reid (2) minutes and five (5) years ago.
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4 Responses to “Then and now”
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Don Quixote: Now, I know that Zach{riel} makes the argument that raising the debt ceiling is the responsibility of the majority and the minority is free to cynically take pot shots for doing so.
It’s not an argument, merely noting the tradition. There’s a much rarer occurrence, though hardly a tradition, Profiles in Courage.
Don Quixote: But I’m just odd enough to demand some level of consistency and even statesmanship in my representatives.
Very odd. You are talking about politicians, right?
Please note that the Republicans are just as consistent in the tradition, only no one has ever held the economy hostage before. The majority, of either party, has always made sure the debt ceiling was increased, the “burden of the majority.” At least the tradition was a workable system.
No “workable system” would result in the crushing debt our children now face. No “workable system” would result in deficits 4 years out of 5 (or worse) and the need to constantly increase the debt limit to the point that it is a mere formality. No “workable system” would collapse because a small group of Congresspersons actually put forward the radical notion that the government should pay its bills as it goes along. I know it’s a quaint idea that nobody takes seriously any more, but the only “workable system” is a balanced budget amendment that doesn’t allow loopholes.
DQ: [I] demand some level of consistency and even statesmanship in my representatives.
Z: Very odd. You are talking about politicians, right?
I’d call it wishful thinking*
*”a statesman is a dead politician.”
Don Quixote: No “workable system” would result in the crushing debt our children now face.
The U.S. is nowhere near the point of no return. A few good decisions will put it right. Keep in mind that U.S. had structural surpluses just a bit more than a decade ago.
Don Quixote: I know it’s a quaint idea that nobody takes seriously any more, but the only “workable system” is a balanced budget amendment that doesn’t allow loopholes.
The problem is that a balanced budget will exacerbate the market cycle, possibly even leading to a collapse following a financial shock. It simply will not work.