Reneging on the debt

Does anybody else think the Democratic Congress has taken a page out of Ronald Reagan's playbook – flipped it over and given it a perverse twist of fate?

Reagan entered the presidency following the disastrous reign of Jimmy Carter. Regrettable, I voted for the peanut baron. My first and last vote for a Democratic president.

You may recall that Iran released our embassy hostages as Ronald Reagan was being sworn into office. That tells us a lot about Democratic presidents' credibility around the world.

I bought my first piece of real estate at the end of Jimmy Carter's term. The mortgage interest rate was 17 and a half percent. You read that right: 17.5 percent. That's what four years of Democratic policies had done for the economy. (And my guess is – we ain't seen nothing, yet.)

But back to Ronald Reagan's playbook: He immediately demanded that the Congress cut taxes – substantially. Since they were afraid of losing their jobs, Congress complied. Then, when the Democrats proposed a new entitlement program, Reagan would simply say, "I'm sorry, there's no money for that," and veto it. (The Democrats have never had the courage of their convictions, which would require that they raise taxes to 110 percent of what everyone makes.)

What's the future for a country built entirely on debt? Find out in "Bankruptcy of our Nation"

So what's the perverse twist the Democratic Congress has inflicted on Ronald Reagan's playbook? They're spending money we haven't even created or even borrowed yet. The part they create will be followed by inflation. (How do you think I got a 17.5% mortgage?) The part they borrow will have to be paid back. Higher taxes; no new goodies!

When paying back the money the Democrats borrowed to give to their friends requires raising taxes on the middle class to about 60 percent (Social Security, Medicare, income tax, the new Illegal Alien Health Care "option" and the global carbon tax), the Democratic Congress will respond, "Our hands are tied. We've already spent the money on blahblahblah ... we have to raise taxes!"

The Democrats are dumb enough to think this is going to sprout wings and fly in America. They honestly believe they are now "in charge" and can do whatever they please. After all, they have the votes.

Democrats only believe this because they don't understand accountability (do you think?). I guess they don't serve much accountability hash at the subsidized dining rooms over in the Capitol, where our public "servants" dine at our expense.

I will tell you what's really going to happen. The Democrats are, in fact, going to spend us into oblivion. But the money will never be repaid. That's because the United States is going to renege on its debt.

As big media well knows, Obama's records have been "sealed" for a reason. Otherwise, they would be filing freedom-of-information requests, fighting the blackouts in court, doing front-page news updates on a daily basis and endlessly editorializing over their efforts.

Instead, they've taken to ridiculing those asking for the evidence the Constitution demands of anyone assuming the presidency. When Obama's student records finally show up listing him as a foreign citizen applying for college, the ruse is over. The laws he signed – including those funding programs and authorizing borrowing – are not worth the paper or electrons they're printed on. It's going to be quite a show. But then, who knew?