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When I started the “No More Red Ink” campaign in February, the issue of freezing the debt limit was hardly being discussed.
The entire political establishment in Washington was discussing the inevitability of raising the debt limit. It was just a question of when and how much.
Only a handful of Republicans dared even suggest the possibility of a no vote.
Even the tea-party movement had not awakened to the importance of freezing debt as a prerequisite to cutting the size and scope of government.
That’s all changed now.
Not only has the “No More Red Ink” campaign delivered about 1 million hard-copy letters to House Republicans urging them to just say no to more borrowing, but the issue is moving front and center with broadening support from tea-party activists, a majority of House Republicans, conservative and libertarian economists and the overwhelming support of Americans at large.
But it all started with you.
I invite you to watch the powerful, nationally televised press conference that took place earlier this week in Washington when a broad coalition of activists put House Speaker John Boehner on notice that he was in dire need of a course correction:
Boehner threw in the towel on the debt limit long ago. He seems to be persuaded that the dire predictions of the Federal Reserve and Treasury Secretary Timothy Geithner (if those two are even distinguishable from one another) are accurate – that freezing spending spells default on U.S. loan obligations.
In fact, Geithner is legally bound to service those loan obligations – and, no matter how you slice it, there’s plenty of money in the U.S. treasury to do that, with or without any more borrowing.
U.S. government revenues are in excess of $2 trillion a year. That’s before any borrowing. Interest on the debt is about $200 billion. That leaves $1.8 trillion for the U.S. government to spend on its myriad programs – far too much, if you ask me.
There is only one way to bring government spending under control – deprive it of any more borrowing power.
Any solution short of that ensures government will continue to grow. Any solution short of that ensures hundreds of worthless, counterproductive and unconstitutional agencies, programs and departments will survive. Any solution short of that ensures government will continue to grab our liberties and sap the nation’s prosperity.
I’ve been beating this drum for a long time – frankly, before anyone else. It’s understandable if you thought I was some kind of a nut when I started. But now, it seems, many others have validated my contention that freezing the debt limit is the most important, history-shaking decision Republicans in control of the House of Representatives can make this year or any other year.
In November, something of an electoral revolution took place. But that revolution will be stillborn if Republicans continue to govern like Democrats – as if business as usual in Washington is an option.
Even Boehner now recognizes he may not have the Republican votes he needs to approve his precious debt-limit increase. Even he may soon be forced to change course and succumb to the growing pressure within his own Republican majority to freeze – or come very close to freezing – the debt limit.
And that’s why it’s more important than ever for the “No More Red Ink” campaign to pour it on.
Reinforcements have finally joined us.
Despite all the naysaying, we have a real chance of stopping the debt limit from being raised.
We have a genuine chance to take the first step back to constitutionally limited government again with this popular uprising.
If you haven’t taken part in this historic crusade yet, the time is here to do so. Join the “No More Red Ink” campaign today.