I admit it.
I have been virtually obsessed with the issue of the debt limit since January of this year.
I've said it before and I'll say it again: It is the most important issue Congress, and especially the Republican-controlled House, will deal with during this two-year session.
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But many people can't relate to it. They don't understand it. Their eyes glaze over when they hear the phrase "debt limit."
Let's make it real simple.
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Do you want Barack Obama to keep spending like he has been spending since he took office in 2009?
If so, then you should lobby your members of Congress to raise the debt limit. I hope you don't, but I'm just being honest.
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If, however, like me, you want to see Obama not only forced to stop spending money your grandchildren and great-children have not yet had an opportunity to earn, then you should oppose any hike in the debt limit.
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If the debt limit is raised, Obama will have more make-believe money to spend – money that has not yet been earned, money that has not yet been printed, money that will have to be repaid by future generations of Americans with significant interest.
If the debt limit is not raised, Obama will not only have to stop spending so much, he'll be forced, along with his Democratic allies in the U.S. Senate, to dramatically cut their plans for spending. In fact, spending would have to be reduced to levels not seen since the administration of George W. Bush in 2005 when the federal government spent about $2.2 trillion.
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For the life of me, I can't understand why any Republican would want to see Obama have more money to spend.
For the life of me, I don't know why any American would want to see the wasteful, corrupt, unaccountable federal government have more money to spend and more power to wield over our lives.
That's what this debate is all about.
Yet, even many Republicans don't get it. Many don't even seem to realize this is the only way they can actually curtail Obama's spending – with control of only the House of Representatives.
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Republicans have come up with all kinds of elaborate and complicated budget plans, some over a 10-year period, some advocating as much borrowing as Obama is demanding and others designed to woo Democrats to their side. There's even a plan to demand Obama cut a dollar for every dollar he borrows.
As the guy who first demanded of Republicans when they first took office in January that they not increase the debt limit, can I tell you why none of the above makes sense?
- If you cut a dollar for every dollar you borrow, there is no point in borrowing.
- There is no need to persuade any Democrats to freeze spending or cut spending. Republicans in the House have complete power to do that today by voting against any increase in the debt limit.
- Any Republican who tells you we need a 10-year plan to balance the budget is a Republican in name only. That's right. I mean even the much-beloved Paul Ryan plan is a complete sellout based on continued heavy borrowing, relies on five future Congresses leaving the plan in place and requires Democrats to approve it – something they will never do.
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So what's left for Republicans to do in 2011 beside complain and gripe about Obama's policies?
There are only two things they can do:
- vote no on any tax increase;
- vote no on raising the debt limit.
If they do just these two things, they will cause a political revolution in Washington as big as the one Ronald Reagan led.
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If they don't, they will have betrayed their mandate to voters who put them in power.